Bank of New York Mellon Corp Has $5.72 Million Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Bank of New York Mellon Corp boosted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,073 shares of the company’s stock after buying an additional 17,793 shares during the period. Bank of New York Mellon Corp’s holdings in Madison Square Garden Entertainment were worth $5,719,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MSGE. OFI Invest Asset Management purchased a new position in shares of Madison Square Garden Entertainment in the second quarter worth approximately $251,000. SG Americas Securities LLC acquired a new position in Madison Square Garden Entertainment in the 2nd quarter worth approximately $354,000. Simplicity Wealth LLC boosted its stake in Madison Square Garden Entertainment by 0.6% in the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock worth $2,591,000 after purchasing an additional 482 shares during the period. DekaBank Deutsche Girozentrale grew its position in Madison Square Garden Entertainment by 101.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Garner Asset Management Corp acquired a new stake in Madison Square Garden Entertainment during the 1st quarter valued at $573,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on MSGE. Morgan Stanley upped their price target on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Macquarie lifted their target price on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. The Goldman Sachs Group raised shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the stock from $41.00 to $45.00 in a research report on Wednesday, July 24th. Finally, Bank of America raised their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.20.

Madison Square Garden Entertainment Trading Down 0.1 %

Madison Square Garden Entertainment stock opened at $39.45 on Friday. Madison Square Garden Entertainment Corp. has a 1-year low of $27.55 and a 1-year high of $42.99. The firm’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $37.70. The company has a market capitalization of $1.62 billion, a P/E ratio of 33.43, a P/E/G ratio of 3.51 and a beta of 0.13.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Friday, August 16th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The business had revenue of $186.10 million for the quarter, compared to analyst estimates of $173.26 million. During the same quarter in the prior year, the firm posted ($0.47) EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.64 earnings per share for the current year.

Madison Square Garden Entertainment Company Profile

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.