Wall Street Zen lowered shares of Madison Square Garden Entertainment (NYSE:MSGE – Free Report) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.
Several other research analysts have also recently issued reports on the company. Guggenheim increased their price objective on Madison Square Garden Entertainment from $82.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their target price on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on Madison Square Garden Entertainment from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $82.00 price objective (up from $72.00) on shares of Madison Square Garden Entertainment in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and an average target price of $91.62.
View Our Latest Analysis on MSGE
Madison Square Garden Entertainment Price Performance
Madison Square Garden Entertainment (NYSE:MSGE – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.23. Madison Square Garden Entertainment had a net margin of 6.24% and a return on equity of 480.83%. The firm had revenue of $196.32 million during the quarter, compared to analyst estimates of $166.62 million. During the same quarter last year, the business earned ($0.57) EPS. The business’s revenue was up 27.4% on a year-over-year basis. Equities analysts forecast that Madison Square Garden Entertainment will post 2.5 EPS for the current year.
Institutional Trading of Madison Square Garden Entertainment
Several institutional investors and hedge funds have recently bought and sold shares of the business. Nykredit A S acquired a new stake in Madison Square Garden Entertainment during the second quarter valued at $46,000. Fifth Third Bancorp acquired a new position in shares of Madison Square Garden Entertainment in the first quarter worth about $113,000. State of Wyoming purchased a new stake in shares of Madison Square Garden Entertainment during the 1st quarter worth about $131,000. IFP Advisors Inc boosted its stake in shares of Madison Square Garden Entertainment by 11,791.7% during the 4th quarter. IFP Advisors Inc now owns 2,854 shares of the company’s stock worth $154,000 after acquiring an additional 2,830 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Madison Square Garden Entertainment during the 2nd quarter worth about $202,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.
About Madison Square Garden Entertainment
Madison Square Garden Entertainment Corp. is a live entertainment company that owns, operates and produces events at prominent venues in the United States. Its portfolio includes Madison Square Garden and Radio City Music Hall in New York City, as well as the Beacon Theatre in New York and The Chicago Theatre in Illinois.
The company presents concerts, comedy shows, family entertainment, sporting events and other live performances. Its productions include the annual Christmas Spectacular Starring the Radio City Rockettes, along with original entertainment and special events.
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