Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Free Report) EVP Philip Gerard D’ambrosio sold 9,907 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $74.48, for a total transaction of $737,873.36. Following the completion of the sale, the executive vice president owned 15,772 shares in the company, valued at approximately $1,174,698.56. This trade represents a 38.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Madison Square Garden Entertainment Stock Performance
Shares of Madison Square Garden Entertainment stock opened at $75.46 on Wednesday. The firm has a market cap of $3.05 billion, a PE ratio of 73.98 and a beta of 0.61. The firm’s 50-day simple moving average is $67.00 and its 200-day simple moving average is $60.73. The company has a debt-to-equity ratio of 11.40, a quick ratio of 0.72 and a current ratio of 0.72. Madison Square Garden Entertainment Corp. has a 1 year low of $35.31 and a 1 year high of $75.70.
Madison Square Garden Entertainment (NYSE:MSGE – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $246.26 million during the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities analysts forecast that Madison Square Garden Entertainment Corp. will post 1.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Madison Square Garden Entertainment
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the company a “positive” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Guggenheim boosted their price objective on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.50.
View Our Latest Stock Report on MSGE
About Madison Square Garden Entertainment
Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.
The company’s core business activities center on venue management, event promotion and production services.
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