Madison Square Garden Entertainment (NYSE:MSGE) Earns Neutral Rating from Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) in a research note issued on Friday, The Fly reports. The firm set a “neutral” rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Madison Square Garden Entertainment from $50.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 10th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a report on Sunday, April 23rd. Finally, Guggenheim started coverage on shares of Madison Square Garden Entertainment in a report on Wednesday, May 17th. They set a “buy” rating and a $37.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.20.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE stock opened at $35.71 on Friday. The firm has a fifty day simple moving average of $44.97 and a two-hundred day simple moving average of $48.06. Madison Square Garden Entertainment has a 12 month low of $28.09 and a 12 month high of $39.19.

Insider Activity at Madison Square Garden Entertainment

In related news, Director Isiah Thomas III sold 931 shares of Madison Square Garden Entertainment stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $58.48, for a total value of $54,444.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MSGE. Gabelli Funds LLC grew its position in shares of Madison Square Garden Entertainment by 1.2% during the 3rd quarter. Gabelli Funds LLC now owns 637,420 shares of the company’s stock valued at $28,104,000 after purchasing an additional 7,525 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Madison Square Garden Entertainment during the 4th quarter valued at $1,305,000. Systematic Financial Management LP grew its position in shares of Madison Square Garden Entertainment by 1.2% during the 3rd quarter. Systematic Financial Management LP now owns 379,955 shares of the company’s stock valued at $16,752,000 after purchasing an additional 4,386 shares in the last quarter. Virtu Financial LLC grew its position in shares of Madison Square Garden Entertainment by 13.0% during the 3rd quarter. Virtu Financial LLC now owns 6,822 shares of the company’s stock valued at $301,000 after purchasing an additional 785 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Madison Square Garden Entertainment by 1.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 914,757 shares of the company’s stock valued at $40,332,000 after purchasing an additional 14,845 shares in the last quarter. 73.28% of the stock is currently owned by hedge funds and other institutional investors.

About Madison Square Garden Entertainment

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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.