Wilmington Savings Fund Society FSB Acquires Shares of 5,691 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Wilmington Savings Fund Society FSB acquired a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,691 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its stake in Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 594 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $219,000. Captrust Financial Advisors purchased a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $227,000. Cannon Global Investment Management LLC purchased a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $259,000. Finally, Marshall Wace LLP raised its stake in shares of Madison Square Garden Entertainment by 5.8% during the second quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. The trade was a 32.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.85% of the stock is owned by company insiders.

Madison Square Garden Entertainment Price Performance

Shares of Madison Square Garden Entertainment stock opened at $34.47 on Wednesday. The business’s fifty day moving average price is $39.12 and its two-hundred day moving average price is $38.46. The company has a market capitalization of $1.66 billion, a P/E ratio of 9.42, a PEG ratio of 3.20 and a beta of -0.04. Madison Square Garden Entertainment Corp. has a 1-year low of $30.10 and a 1-year high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.39. The firm had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.73) EPS. On average, research analysts expect that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on MSGE shares. Guggenheim lowered their target price on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley lowered their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.