Channing Capital Management LLC Decreases Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Channing Capital Management LLC lessened its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,030,480 shares of the company’s stock after selling 200,527 shares during the quarter. Madison Square Garden Entertainment accounts for about 1.9% of Channing Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Channing Capital Management LLC owned approximately 4.94% of Madison Square Garden Entertainment worth $64,549,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in Madison Square Garden Entertainment by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 49,620 shares of the company’s stock valued at $1,577,000 after purchasing an additional 857 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Madison Square Garden Entertainment by 28.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,687 shares of the company’s stock valued at $340,000 after acquiring an additional 2,370 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Madison Square Garden Entertainment by 24.0% during the fourth quarter. Simplicity Solutions LLC now owns 76,235 shares of the company’s stock worth $2,424,000 after acquiring an additional 14,734 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Madison Square Garden Entertainment by 24.0% in the fourth quarter. Bleakley Financial Group LLC now owns 76,235 shares of the company’s stock worth $2,424,000 after acquiring an additional 14,734 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Madison Square Garden Entertainment by 98.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,597 shares of the company’s stock valued at $82,000 after purchasing an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Up 2.1 %

NYSE MSGE traded up $0.82 during mid-day trading on Friday, reaching $40.30. 1,006,590 shares of the company’s stock traded hands, compared to its average volume of 349,924. The company has a fifty day simple moving average of $38.71 and a 200-day simple moving average of $34.44. Madison Square Garden Entertainment Corp. has a 1-year low of $27.55 and a 1-year high of $41.58. The company has a market cap of $1.66 billion and a price-to-earnings ratio of 26.17.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.69. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The business had revenue of $402.67 million during the quarter, compared to the consensus estimate of $385.92 million. During the same quarter last year, the company earned $1.95 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Madison Square Garden Entertainment

In related news, CEO James Lawrence Dolan sold 28,796 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $37.71, for a total transaction of $1,085,897.16. Following the completion of the transaction, the chief executive officer now owns 292,143 shares in the company, valued at approximately $11,016,712.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 190,080 shares of company stock worth $7,221,633. 18.72% of the stock is currently owned by company insiders.

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.