Horizon Kinetics Asset Management LLC Grows Stock Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Horizon Kinetics Asset Management LLC boosted its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 49,417 shares of the company’s stock after purchasing an additional 2,407 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Madison Square Garden Entertainment were worth $2,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Madison Square Garden Entertainment by 5.8% during the second quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares in the last quarter. Simplicity Wealth LLC grew its holdings in Madison Square Garden Entertainment by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock valued at $2,591,000 after buying an additional 482 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Madison Square Garden Entertainment by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,143 shares of the company’s stock valued at $280,000 after buying an additional 561 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after buying an additional 594 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Madison Square Garden Entertainment by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock worth $292,000 after acquiring an additional 805 shares during the last quarter. 96.86% of the stock is owned by institutional investors.

Madison Square Garden Entertainment Price Performance

Shares of NYSE MSGE opened at $37.00 on Monday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 9.91, a PEG ratio of 3.31 and a beta of 0.17. Madison Square Garden Entertainment Corp. has a 1-year low of $29.71 and a 1-year high of $44.14. The business’s 50 day moving average is $40.91 and its two-hundred day moving average is $38.45.

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

Insider Activity

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on MSGE shares. Morgan Stanley decreased their price target on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Guggenheim dropped their price target on 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. Finally, Bank of America lifted their price objective on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Madison Square Garden Entertainment Company Profile

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.