Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 16,011 Madison Square Garden Entertainment Corp. $MSGE

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGEFree Report) during the first quarter, HoldingsChannel.com reports. The firm purchased 16,011 shares of the company’s stock, valued at approximately $943,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MSGE. Deutsche Bank AG increased its holdings in Madison Square Garden Entertainment by 0.6% in the fourth quarter. Deutsche Bank AG now owns 32,473 shares of the company’s stock valued at $1,750,000 after purchasing an additional 181 shares during the last quarter. CWM LLC boosted its holdings in Madison Square Garden Entertainment by 15.1% during the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after buying an additional 226 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Madison Square Garden Entertainment by 1.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after buying an additional 418 shares during the period. XTX Topco Ltd grew its position in shares of Madison Square Garden Entertainment by 5.2% during the 4th quarter. XTX Topco Ltd now owns 8,681 shares of the company’s stock worth $468,000 after buying an additional 427 shares during the period. Finally, Sei Investments Co. grew its position in shares of Madison Square Garden Entertainment by 6.2% during the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock worth $350,000 after buying an additional 451 shares during the period. 96.86% of the stock is currently owned by institutional investors.

Madison Square Garden Entertainment Stock Down 2.2%

Shares of Madison Square Garden Entertainment stock opened at $77.15 on Friday. The company has a market capitalization of $3.12 billion, a P/E ratio of 75.64 and a beta of 0.54. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $74.94 and a two-hundred day moving average of $66.10. Madison Square Garden Entertainment Corp. has a 1 year low of $35.31 and a 1 year high of $82.79.

Madison Square Garden Entertainment (NYSE:MSGEGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The business had revenue of $246.26 million for the quarter, compared to the consensus estimate of $242.99 million. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $74.48, for a total transaction of $737,873.36. Following the sale, the executive vice president directly 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 accessible through this link. Company insiders own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MSGE. 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. Morgan Stanley boosted their price objective on shares of Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their target price on shares of Madison Square Garden Entertainment from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $82.00 target price (up from $72.00) on shares of Madison Square Garden Entertainment in a report on Thursday, July 9th. Finally, Susquehanna lifted their price target on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the stock a “positive” rating in a research report on Thursday, May 28th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Hold” and an average target price of $79.83.

View Our Latest Analysis on MSGE

Madison Square Garden Entertainment Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Madison Square Garden Entertainment (NYSE:MSGE)

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