Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,521 shares of the company’s stock after purchasing an additional 450 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Madison Square Garden Entertainment were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MSGE. Kettle Hill Capital Management LLC grew its position in Madison Square Garden Entertainment by 228.5% in the 3rd quarter. Kettle Hill Capital Management LLC now owns 192,500 shares of the company’s stock worth $6,335,000 after purchasing an additional 133,899 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in Madison Square Garden Entertainment in the 3rd quarter worth approximately $62,652,000. Walleye Capital LLC increased its position in Madison Square Garden Entertainment by 11.2% in the 3rd quarter. Walleye Capital LLC now owns 536,644 shares of the company’s stock valued at $17,661,000 after acquiring an additional 53,967 shares during the period. Graham Capital Management L.P. bought a new stake in Madison Square Garden Entertainment during the 3rd quarter valued at $272,000. Finally, North Star Investment Management Corp. boosted its position in Madison Square Garden Entertainment by 29.6% during the 4th quarter. North Star Investment Management Corp. now owns 110,071 shares of the company’s stock worth $3,499,000 after acquiring an additional 25,125 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $33.88 on Tuesday. Madison Square Garden Entertainment Corp. has a one year low of $27.55 and a one year high of $41.58. The stock’s fifty day moving average is $36.13 and its 200-day moving average is $35.87. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 4.00 and a beta of 0.18.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, May 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $228.30 million for the quarter, compared to analysts’ expectations of $227.63 million. Madison Square Garden Entertainment had a net margin of 5.74% and a negative return on equity of 53.05%. Madison Square Garden Entertainment’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Analysts forecast that Madison Square Garden Entertainment Corp. will post 1.23 EPS for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.