Brokerages Set Madison Square Garden Entertainment Corp. (NYSE:MSGE) Target Price at $45.50

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $45.50.

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Monday. JPMorgan Chase & Co. upped their price objective on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley boosted their target price on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group raised their price target on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MSGE. Millennium Management LLC grew its position in shares of Madison Square Garden Entertainment by 2,037.6% in the 3rd quarter. Millennium Management LLC now owns 589,096 shares of the company’s stock valued at $26,651,000 after buying an additional 561,537 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Madison Square Garden Entertainment by 324.8% in the second quarter. Bank of America Corp DE now owns 667,248 shares of the company’s stock worth $26,670,000 after acquiring an additional 510,191 shares during the period. Long Pond Capital LP bought a new stake in Madison Square Garden Entertainment in the first quarter valued at approximately $13,630,000. Dendur Capital LP increased its position in Madison Square Garden Entertainment by 60.1% during the 2nd quarter. Dendur Capital LP now owns 925,500 shares of the company’s stock valued at $36,992,000 after purchasing an additional 347,500 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Madison Square Garden Entertainment by 23.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company’s stock valued at $46,768,000 after purchasing an additional 198,361 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $49.18 on Monday. The firm’s fifty day moving average price is $45.70 and its two-hundred day moving average price is $41.41. The stock has a market cap of $1.99 billion, a PE ratio of 70.26 and a beta of 0.48. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.48 and a current ratio of 0.48. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $49.76.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. The company had revenue of $158.26 million during the quarter, compared to analysts’ expectations of $156.62 million. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.Madison Square Garden Entertainment’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS. On average, equities analysts expect that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.