Victory Capital Management Inc. Purchases 6,459 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Victory Capital Management Inc. lifted its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 75.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,042 shares of the company’s stock after buying an additional 6,459 shares during the quarter. Victory Capital Management Inc.’s holdings in Madison Square Garden Entertainment were worth $515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MSGE. Norges Bank bought a new stake in shares of Madison Square Garden Entertainment during the fourth quarter valued at approximately $14,980,000. PNC Financial Services Group Inc. raised its stake in Madison Square Garden Entertainment by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,521 shares of the company’s stock valued at $271,000 after buying an additional 450 shares during the last quarter. Trexquant Investment LP purchased a new stake in Madison Square Garden Entertainment during the 4th quarter valued at $945,000. Capstone Investment Advisors LLC purchased a new stake in Madison Square Garden Entertainment during the 4th quarter valued at $580,000. Finally, Garden State Investment Advisory Services LLC raised its stake in Madison Square Garden Entertainment by 20.3% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,396 shares of the company’s stock valued at $489,000 after buying an additional 2,603 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock opened at $42.13 on Monday. Madison Square Garden Entertainment Corp. has a 1 year low of $27.55 and a 1 year high of $42.99. The firm has a fifty day moving average price of $39.54 and a 200-day moving average price of $37.84. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 3.46 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. The firm had revenue of $186.10 million during the quarter, compared to the consensus estimate of $173.26 million. During the same quarter in the previous year, the firm posted ($0.47) EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities research analysts expect that Madison Square Garden Entertainment Corp. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $45.00 in a research note on Wednesday, July 24th. 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. Bank of America boosted 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 research note on Monday, August 19th. Finally, Macquarie boosted 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and an average target price 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.