State Street Corp Grows Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

State Street Corp raised its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 896,795 shares of the company’s stock after acquiring an additional 3,463 shares during the quarter. State Street Corp owned approximately 1.87% of Madison Square Garden Entertainment worth $38,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGE. Bank of New York Mellon Corp boosted its stake in shares of Madison Square Garden Entertainment by 11.9% during the second quarter. Bank of New York Mellon Corp now owns 167,073 shares of the company’s stock valued at $5,719,000 after acquiring an additional 17,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Madison Square Garden Entertainment by 10.4% in the 2nd 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. Panagora Asset Management Inc. boosted its stake in shares of Madison Square Garden Entertainment by 7.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 20,706 shares of the company’s stock worth $709,000 after purchasing an additional 1,491 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Madison Square Garden Entertainment by 10.6% during the second quarter. Rhumbline Advisers now owns 67,303 shares of the company’s stock worth $2,304,000 after buying an additional 6,466 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of Madison Square Garden Entertainment in the second quarter valued at approximately $1,086,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MSGE. Morgan Stanley decreased their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Macquarie dropped their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Guggenheim decreased their price target on 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.00.

Madison Square Garden Entertainment Trading Up 0.5 %

Shares of MSGE opened at $33.40 on Friday. Madison Square Garden Entertainment Corp. has a twelve month low of $30.10 and a twelve month high of $44.14. The firm has a market capitalization of $1.61 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 3.13 and a beta of -0.04. The stock’s fifty day simple moving average is $38.56 and its 200 day simple moving average is $38.38.

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

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total transaction of $254,580.00. Following the transaction, the executive vice president now owns 12,192 shares in the company, valued at $517,306.56. The trade was a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.85% of the stock is currently owned by corporate insiders.

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.