Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Position Raised by Systematic Financial Management LP

Systematic Financial Management LP boosted its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 891,493 shares of the company’s stock after acquiring an additional 45,261 shares during the quarter. Madison Square Garden Entertainment makes up approximately 1.0% of Systematic Financial Management LP’s holdings, making the stock its 23rd largest position. Systematic Financial Management LP’s holdings in Madison Square Garden Entertainment were worth $37,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC boosted its position in Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 594 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Madison Square Garden Entertainment by 101.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after buying an additional 2,639 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in Madison Square Garden Entertainment in the third quarter valued at approximately $219,000. Captrust Financial Advisors bought a new stake in Madison Square Garden Entertainment in the third quarter valued at approximately $227,000. Finally, OFI Invest Asset Management bought a new stake in shares of Madison Square Garden Entertainment during the second quarter worth $251,000. Institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MSGE shares. Guggenheim cut their price target on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Bank of America raised their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Macquarie decreased their target price on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Morgan Stanley decreased their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Madison Square Garden Entertainment Price Performance

NYSE MSGE opened at $38.66 on Thursday. Madison Square Garden Entertainment Corp. has a 1 year low of $30.00 and a 1 year high of $44.14. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 3.54 and a beta of -0.04. The company has a fifty day moving average price of $40.23 and a 200-day moving average price of $38.46.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The business had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. During the same period in the prior year, the firm earned ($0.73) earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.