Madison Square Garden Entertainment (NYSE:MSGE) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Madison Square Garden Entertainment (NYSE:MSGE) from a hold rating to a sell rating in a report issued on Sunday.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Madison Square Garden Entertainment Stock Up 0.9%

NYSE MSGE opened at $44.04 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $48.09. The company has a 50 day moving average of $42.25 and a 200-day moving average of $38.50. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 57.95 and a beta of 0.49.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The firm had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. On average, equities research analysts expect that Madison Square Garden Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Madison Square Garden Entertainment

Several institutional investors have recently modified their holdings of the business. Ariel Investments LLC grew its stake in shares of Madison Square Garden Entertainment by 1.6% in the second quarter. Ariel Investments LLC now owns 7,896,008 shares of the company’s stock worth $315,603,000 after purchasing an additional 120,635 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of Madison Square Garden Entertainment by 5.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company’s stock worth $94,479,000 after purchasing an additional 152,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Madison Square Garden Entertainment by 23.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company’s stock valued at $46,768,000 after buying an additional 198,361 shares during the period. Dendur Capital LP lifted its holdings in Madison Square Garden Entertainment by 60.1% in the second quarter. Dendur Capital LP now owns 925,500 shares of the company’s stock valued at $36,992,000 after buying an additional 347,500 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in Madison Square Garden Entertainment by 0.4% in the first quarter. Systematic Financial Management LP now owns 923,407 shares of the company’s stock valued at $30,232,000 after buying an additional 3,930 shares during the period. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.