Systematic Financial Management LP Cuts Stake in Madison Square Garden Entertainment Corp. $MSGE

Systematic Financial Management LP reduced its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863,872 shares of the company’s stock after selling 29,227 shares during the period. Madison Square Garden Entertainment makes up 1.1% of Systematic Financial Management LP’s portfolio, making the stock its 20th biggest position. Systematic Financial Management LP owned approximately 2.14% of Madison Square Garden Entertainment worth $46,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MSGE. CWM LLC boosted its position in shares of Madison Square Garden Entertainment by 15.1% during the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after buying an additional 226 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in shares of Madison Square Garden Entertainment by 1.9% during the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock valued at $906,000 after buying an additional 418 shares during the last quarter. Sei Investments Co. boosted its position in shares of Madison Square Garden Entertainment by 6.2% during the third quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock valued at $350,000 after buying an additional 451 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Madison Square Garden Entertainment by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,251 shares of the company’s stock valued at $391,000 after buying an additional 468 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Madison Square Garden Entertainment during the fourth quarter valued at $37,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Stock Up 0.2%

MSGE stock opened at $69.52 on Friday. Madison Square Garden Entertainment Corp. has a fifty-two week low of $35.31 and a fifty-two week high of $70.81. The business’s 50-day moving average is $62.02 and its two-hundred day moving average is $57.64. 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 cap of $2.81 billion, a price-to-earnings ratio of 68.16 and a beta of 0.61.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share 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 firm had revenue of $246.26 million during the quarter, compared to the consensus estimate of $242.99 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts forecast that Madison Square Garden Entertainment Corp. will post 1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on MSGE. Guggenheim increased their price objective on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen cut Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

Madison Square Garden Entertainment Profile

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.