Madison Square Garden Entertainment (NYSE:MSGE) Price Target Cut to $44.00 by Analysts at Morgan Stanley

Madison Square Garden Entertainment (NYSE:MSGE) had its price objective decreased by analysts at Morgan Stanley from $45.00 to $44.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.77% from the stock’s previous close.

MSGE has been the topic of several other research reports. Macquarie lifted their price objective on 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 boosted their price target for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Finally, Bank of America raised their price objective on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 19th. 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 MarketBeat.com, Madison Square Garden Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Madison Square Garden Entertainment Price Performance

NYSE:MSGE opened at $37.68 on Monday. Madison Square Garden Entertainment has a one year low of $28.54 and a one year high of $44.14. The company has a fifty day moving average price of $41.58 and a 200 day moving average price of $38.67. The stock has a market cap of $1.57 billion, a P/E ratio of 10.44, a PEG ratio of 3.39 and a beta of 0.17.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $139.46 million. During the same quarter in the prior year, the business earned ($0.73) earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Madison Square Garden Entertainment will post 1.66 EPS for the current year.

Insider Activity at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction dated 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 approximately $517,306.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MSGE. Quent Capital LLC increased its holdings in Madison Square Garden Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after purchasing an additional 594 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Madison Square Garden Entertainment by 101.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after buying an additional 2,639 shares during the last quarter. OFI Invest Asset Management acquired a new position in Madison Square Garden Entertainment during the 2nd quarter worth about $251,000. Cannon Global Investment Management LLC bought a new stake in Madison Square Garden Entertainment during the 3rd quarter worth about $259,000. Finally, Marshall Wace LLP increased its position in Madison Square Garden Entertainment by 5.8% in the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock valued at $267,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

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.