Victory Capital Management Inc. Has $744,000 Stock Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Victory Capital Management Inc. grew its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 16.4% in the third quarter, HoldingsChannel.com reports. The fund owned 17,503 shares of the company’s stock after acquiring an additional 2,461 shares during the quarter. Victory Capital Management Inc.’s holdings in Madison Square Garden Entertainment were worth $744,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MSGE. Marshall Wace LLP lifted its position in Madison Square Garden Entertainment by 5.8% during the second quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares during the period. Simplicity Wealth LLC boosted its position in shares of Madison Square Garden Entertainment by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock worth $2,591,000 after acquiring an additional 482 shares in the last quarter. Quent Capital LLC increased its stake in Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 594 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Madison Square Garden Entertainment by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock valued at $292,000 after purchasing an additional 805 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in Madison Square Garden Entertainment by 7.8% during the second quarter. Panagora Asset Management Inc. now owns 20,706 shares of the company’s stock valued at $709,000 after purchasing an additional 1,491 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Trading Down 0.4 %

NYSE:MSGE opened at $36.64 on Friday. The stock’s 50-day moving average is $40.54 and its 200-day moving average is $38.42. The stock has a market cap of $1.76 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 3.36 and a beta of 0.17. Madison Square Garden Entertainment Corp. has a 1-year low of $29.71 and a 1-year high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.39. The firm had revenue of $138.70 million during the quarter, compared to analysts’ expectations of $139.46 million. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.73) EPS. As a group, equities analysts forecast that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

Insider Activity at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the sale, the executive vice president now directly owns 12,192 shares in the company, valued at $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MSGE shares. Morgan Stanley decreased their price target on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Bank of America raised their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Guggenheim lowered their price objective on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

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.