Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday, The Fly reports.
Other equities research analysts have also recently issued research reports about the stock. Oppenheimer dropped their target price on shares of Madison Square Garden Entertainment from $95.00 to $52.00 in a research report on Thursday, November 10th. Jefferies Financial Group cut shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the stock from $100.00 to $49.00 in a research report on Tuesday, November 15th. Finally, Guggenheim dropped their target price on shares of Madison Square Garden Entertainment to $77.00 in a research report on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Hold” and an average target price of $62.83.
Madison Square Garden Entertainment Price Performance
NYSE:MSGE opened at $41.99 on Thursday. The company has a 50-day moving average of $45.81 and a 200-day moving average of $52.79. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -8.86 and a beta of 1.33. Madison Square Garden Entertainment has a 52 week low of $38.98 and a 52 week high of $84.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 0.91.
Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.24). The business had revenue of $401.22 million for the quarter, compared to the consensus estimate of $364.38 million. Madison Square Garden Entertainment had a negative return on equity of 5.88% and a negative net margin of 8.73%. As a group, equities research analysts anticipate that Madison Square Garden Entertainment will post -1.76 earnings per share for the current fiscal year.
Insider Buying and Selling at Madison Square Garden Entertainment
In related news, SVP Philip Gerard D’ambrosio acquired 600 shares of the stock in a transaction on Thursday, September 22nd. The stock was purchased at an average price of $49.22 per share, for a total transaction of $29,532.00. Following the transaction, the senior vice president now owns 10,126 shares of the company’s stock, valued at approximately $498,401.72. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 24.60% of the company’s stock.
Institutional Investors Weigh In On Madison Square Garden Entertainment
Several institutional investors have recently modified their holdings of MSGE. MBM Wealth Consultants LLC acquired a new stake in shares of Madison Square Garden Entertainment during the 1st quarter worth approximately $28,000. Rockefeller Capital Management L.P. grew its position in shares of Madison Square Garden Entertainment by 82.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 649 shares of the company’s stock worth $28,000 after buying an additional 294 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Madison Square Garden Entertainment during the 2nd quarter worth approximately $41,000. Sargent Bickham Lagudis LLC grew its position in shares of Madison Square Garden Entertainment by 216.7% during the 3rd quarter. Sargent Bickham Lagudis LLC now owns 950 shares of the company’s stock worth $42,000 after buying an additional 650 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 73.58% of the company’s stock.
Madison Square Garden Entertainment Company Profile
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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.
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