Madison Square Garden Entertainment Corp. $MSGE Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 795,201 shares of the company’s stock after selling 68,671 shares during the quarter. Madison Square Garden Entertainment accounts for approximately 1.1% of Systematic Financial Management LP’s portfolio, making the stock its 20th biggest position. Systematic Financial Management LP owned approximately 1.97% of Madison Square Garden Entertainment worth $46,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MSGE. Deutsche Bank AG increased its stake in shares of Madison Square Garden Entertainment by 0.6% during the fourth quarter. Deutsche Bank AG now owns 32,473 shares of the company’s stock worth $1,750,000 after buying an additional 181 shares during the period. CWM LLC lifted its stake in Madison Square Garden Entertainment by 15.1% in the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after acquiring an additional 226 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in Madison Square Garden Entertainment by 1.9% in the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after acquiring an additional 418 shares during the last quarter. XTX Topco Ltd grew its holdings in Madison Square Garden Entertainment by 5.2% during the 4th quarter. XTX Topco Ltd now owns 8,681 shares of the company’s stock worth $468,000 after acquiring an additional 427 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Madison Square Garden Entertainment by 6.2% during the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock worth $350,000 after acquiring an additional 451 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Morgan Stanley boosted their target price on shares of Madison Square Garden Entertainment from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Guggenheim increased their target price on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, April 16th. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.83.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $74.48, for a total value of $737,873.36. Following the completion of the sale, the executive vice president directly owned 15,772 shares of the company’s stock, valued at approximately $1,174,698.56. The trade was a 38.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.41% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of MSGE opened at $76.56 on Friday. Madison Square Garden Entertainment Corp. has a 1-year low of $35.31 and a 1-year high of $82.79. The stock has a market cap of $3.10 billion, a PE ratio of 75.06 and a beta of 0.54. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a fifty day moving average price of $73.98 and a 200 day moving average price of $65.23.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $246.26 million during the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.35 EPS for the current year.

Madison Square Garden Entertainment Profile

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.