Janus Henderson Group PLC Sells 50,519 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Janus Henderson Group PLC decreased its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 71.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,892 shares of the company’s stock after selling 50,519 shares during the period. Janus Henderson Group PLC’s holdings in Madison Square Garden Entertainment were worth $846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC increased its position in Madison Square Garden Entertainment by 913.8% during the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after acquiring an additional 594 shares during the period. ArrowMark Colorado Holdings LLC bought a new position in shares of Madison Square Garden Entertainment during the third quarter worth approximately $219,000. Captrust Financial Advisors bought a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at approximately $227,000. Cannon Global Investment Management LLC acquired a new stake in Madison Square Garden Entertainment during the third quarter worth approximately $259,000. Finally, Marshall Wace LLP increased its stake in Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $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 Price Performance

Shares of Madison Square Garden Entertainment stock opened at $34.37 on Friday. The company’s 50 day moving average price is $39.40 and its two-hundred day moving average price is $38.45. The firm has a market capitalization of $1.65 billion, a P/E ratio of 9.39, a P/E/G ratio of 3.20 and a beta of -0.04. Madison Square Garden Entertainment Corp. has a fifty-two week low of $30.10 and a fifty-two week high of $44.14.

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

Insider Activity

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This represents a 32.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MSGE. Macquarie reduced their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Bank of America raised their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 19th. Morgan Stanley cut their price target on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Guggenheim decreased their price objective on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.00.

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.