Squarepoint Ops LLC Acquires New Position in Madison Square Garden Entertainment Corp. $MSGE

Squarepoint Ops LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 59,537 shares of the company’s stock, valued at approximately $4,816,000.

Other large investors also recently made changes to their positions in the company. Nykredit A S purchased a new position in shares of Madison Square Garden Entertainment during the 2nd quarter worth $46,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Madison Square Garden Entertainment in the fourth quarter valued at $45,000. CIBC Private Wealth Group LLC increased its stake in Madison Square Garden Entertainment by 3,248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock valued at $67,000 after purchasing an additional 1,202 shares during the last quarter. State of Wyoming acquired a new position in Madison Square Garden Entertainment in the second quarter valued at $62,000. Finally, Fifth Third Bancorp purchased a new position in Madison Square Garden Entertainment during the first quarter worth about $113,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MSGE. Wall Street Zen raised Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Madison Square Garden Entertainment from $75.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $82.00 target price (up from $72.00) on shares of Madison Square Garden Entertainment in a research report on Thursday, July 9th. BTIG Research boosted their target price on shares of Madison Square Garden Entertainment from $86.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Madison Square Garden Entertainment in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.62.

Madison Square Garden Entertainment Price Performance

Shares of Madison Square Garden Entertainment stock opened at $78.91 on Friday. The business’s fifty day moving average price is $77.92 and its 200 day moving average price is $70.00. Madison Square Garden Entertainment Corp. has a twelve month low of $41.65 and a twelve month high of $90.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 11.80. The stock has a market capitalization of $3.19 billion, a P/E ratio of 57.18 and a beta of 0.56.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.23. The company had revenue of $196.32 million during the quarter, compared to analyst estimates of $166.62 million. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%.The firm’s revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.57) earnings per share. As a group, research analysts anticipate that Madison Square Garden Entertainment Corp. will post 2.5 earnings per share for the current year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. is a live entertainment company that owns, operates and produces events at prominent venues in the United States. Its portfolio includes Madison Square Garden and Radio City Music Hall in New York City, as well as the Beacon Theatre in New York and The Chicago Theatre in Illinois.

The company presents concerts, comedy shows, family entertainment, sporting events and other live performances. Its productions include the annual Christmas Spectacular Starring the Radio City Rockettes, along with original entertainment and special events.