Madison Square Garden Entertainment Corp. $MSGE Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 83.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 43,582 shares of the company’s stock after acquiring an additional 19,787 shares during the period. Sei Investments Co.’s holdings in Madison Square Garden Entertainment were worth $2,567,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. First Horizon Corp acquired a new position in shares of Madison Square Garden Entertainment in the 4th quarter valued at $37,000. Aster Capital Management DIFC Ltd acquired a new stake in Madison Square Garden Entertainment during the 4th quarter worth $45,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Madison Square Garden Entertainment during the 4th quarter worth $47,000. State of Wyoming purchased a new stake in Madison Square Garden Entertainment in the second quarter valued at $62,000. Finally, CIBC Private Wealth Group LLC lifted its position in Madison Square Garden Entertainment by 3,248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock valued at $67,000 after acquiring an additional 1,202 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Down 0.3%

Shares of NYSE:MSGE opened at $76.44 on Friday. The stock has a market cap of $3.09 billion, a P/E ratio of 74.94 and a beta of 0.56. The firm has a fifty day moving average price of $75.64 and a 200 day moving average price of $66.73. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. Madison Square Garden Entertainment Corp. has a 1-year low of $35.31 and a 1-year high of $82.79.

Madison Square Garden Entertainment (NYSE:MSGE) last issued 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 business had revenue of $246.26 million for the quarter, compared to analysts’ expectations of $242.99 million. Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Seaport Research Partners restated a “neutral” rating on shares of Madison Square Garden Entertainment in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on Madison Square Garden Entertainment from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Susquehanna boosted their target price on Madison Square Garden Entertainment from $77.00 to $80.00 and gave the company a “positive” rating in a report on Thursday, May 28th. Morgan Stanley upped their target price on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, Guggenheim raised their price target on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Three investment 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 an average target price of $79.83.

Insider Activity at Madison Square Garden Entertainment

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

About Madison Square Garden Entertainment

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.