Exchange Traded Concepts LLC Has $600,000 Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Exchange Traded Concepts LLC lessened its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,104 shares of the company’s stock after selling 833 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Madison Square Garden Entertainment were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Quent Capital LLC increased its stake in Madison Square Garden Entertainment by 1,838.2% in the first quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 625 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Madison Square Garden Entertainment in the 1st quarter valued at approximately $205,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after buying an additional 2,639 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Madison Square Garden Entertainment in the 2nd quarter valued at $251,000. Finally, Marshall Wace LLP grew its position in Madison Square Garden Entertainment by 5.8% in the second quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock valued at $267,000 after acquiring an additional 426 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Down 0.9 %

Shares of MSGE stock opened at $43.36 on Friday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 3.70 and a beta of 0.13. The firm’s 50 day moving average is $41.25 and its 200-day moving average is $38.39. Madison Square Garden Entertainment Corp. has a 1 year low of $27.55 and a 1 year high of $44.04.

Madison Square Garden Entertainment (NYSE:MSGE) last announced 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 firm had revenue of $186.10 million for the quarter, compared to analyst estimates of $173.26 million. During the same period last year, the company earned ($0.47) EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.72% of the company’s stock.

Analysts Set New Price Targets

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

Madison Square Garden Entertainment 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.