Madison Square Garden Entertainment (NYSE:MSGE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Madison Square Garden Entertainment (NYSE:MSGE) had its target price boosted by research analysts at JPMorgan Chase & Co. from $41.00 to $47.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.84% from the stock’s previous close.

A number of other analysts also recently commented on the company. Morgan Stanley raised their price objective on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group raised their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $46.61 on Friday. The company’s fifty day moving average is $44.16 and its two-hundred day moving average is $40.02. Madison Square Garden Entertainment has a 52-week low of $28.29 and a 52-week high of $48.09. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 66.59 and a beta of 0.48.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.13. Madison Square Garden Entertainment had a net margin of 3.65% and a return on equity of 2,102.70%. The business had revenue of $158.26 million during the quarter, compared to analysts’ expectations of $156.62 million. During the same quarter last year, the company earned ($0.40) earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC lifted its holdings in shares of Madison Square Garden Entertainment by 1.6% during the second quarter. Ariel Investments LLC now owns 7,896,008 shares of the company’s stock valued at $315,603,000 after acquiring an additional 120,635 shares during the period. Jericho Capital Asset Management L.P. increased its position in shares of Madison Square Garden Entertainment by 5.6% during the 1st 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Madison Square Garden Entertainment by 23.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company’s stock valued at $46,768,000 after purchasing an additional 198,361 shares during the last quarter. Dendur Capital LP boosted its position 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 in the last quarter. Finally, Systematic Financial Management LP boosted its position 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 in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

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.