Sanctuary Advisors LLC Takes Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Sanctuary Advisors LLC purchased a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,845 shares of the company’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its position in Madison Square Garden Entertainment by 1,838.2% in the 1st quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 625 shares during the last quarter. Principal Financial Group Inc. bought a new position in Madison Square Garden Entertainment in the 1st quarter worth approximately $205,000. DekaBank Deutsche Girozentrale increased its position in Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after acquiring an additional 2,639 shares during the period. OFI Invest Asset Management bought a new stake in Madison Square Garden Entertainment during the 2nd quarter valued at $251,000. Finally, Marshall Wace LLP grew its stake in shares of Madison Square Garden Entertainment by 5.8% in 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 in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

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 on Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at $517,306.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 18.72% of the company’s stock.

Analyst Ratings Changes

MSGE has been the subject of several research analyst reports. Macquarie upped their price objective on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. The Goldman Sachs Group raised shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and upped their price target for the stock from $41.00 to $45.00 in a research note on Wednesday, July 24th. Bank of America raised their price objective 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, Morgan Stanley boosted their target price on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.20.

Madison Square Garden Entertainment Trading Down 0.9 %

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

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, August 16th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $1.97. The business had revenue of $186.10 million during the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. Madison Square Garden Entertainment’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) EPS. As a group, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.66 earnings per share for the current fiscal year.

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.