Madison Square Garden Entertainment (NYSE:MSGE) Given New $80.00 Price Target at Susquehanna

Madison Square Garden Entertainment (NYSE:MSGE) had its price objective increased by equities researchers at Susquehanna from $77.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 14.52% from the stock’s current price.

Several other analysts also recently commented on MSGE. Guggenheim upped their price objective on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings downgraded Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 8th. BTIG Research restated a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Madison Square Garden Entertainment Trading Down 1.0%

Shares of Madison Square Garden Entertainment stock opened at $69.86 on Thursday. The company has a debt-to-equity ratio of 11.40, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $2.82 billion, a P/E ratio of 68.22 and a beta of 0.61. Madison Square Garden Entertainment has a 1 year low of $35.31 and a 1 year high of $71.78. The company’s fifty day moving average is $62.82 and its two-hundred day moving average is $58.27.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The business had revenue of $246.26 million during the quarter, compared to analysts’ expectations of $242.99 million. During the same period in the previous year, the company posted $0.17 earnings per share. Madison Square Garden Entertainment’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts forecast that Madison Square Garden Entertainment will post 1.28 earnings per share for the current year.

Institutional Trading of Madison Square Garden Entertainment

A number of institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Madison Square Garden Entertainment by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock valued at $775,000 after buying an additional 1,193 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Madison Square Garden Entertainment in the 1st quarter worth about $4,994,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Madison Square Garden Entertainment in the 1st quarter worth about $210,000. Jane Street Group LLC acquired a new stake in Madison Square Garden Entertainment in the 1st quarter valued at about $1,468,000. Finally, JPMorgan Chase & Co. increased its holdings in Madison Square Garden Entertainment by 53.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after acquiring an additional 35,678 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

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.