Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Bought by Lido Advisors LLC

Lido Advisors LLC raised its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 80.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,622 shares of the company’s stock after acquiring an additional 3,836 shares during the quarter. Lido Advisors LLC’s holdings in Madison Square Garden Entertainment were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of MSGE. Price T Rowe Associates Inc. MD lifted its stake in Madison Square Garden Entertainment by 57.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,305,995 shares of the company’s stock valued at $68,721,000 after buying an additional 474,125 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Madison Square Garden Entertainment during the first quarter valued at about $18,770,000. Norges Bank purchased a new stake in Madison Square Garden Entertainment during the fourth quarter valued at about $11,369,000. Nomura Holdings Inc. lifted its stake in Madison Square Garden Entertainment by 4,079.0% during the first quarter. Nomura Holdings Inc. now owns 239,668 shares of the company’s stock valued at $14,157,000 after buying an additional 233,933 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its stake in Madison Square Garden Entertainment by 91.6% during the second quarter. Seizert Capital Partners LLC now owns 456,616 shares of the company’s stock valued at $13,936,000 after buying an additional 218,243 shares in the last quarter. 70.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Entertainment Co. Sphere sold 8,221,188 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $31.20, for a total value of $256,501,065.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.72% of the stock is currently owned by corporate insiders.

Madison Square Garden Entertainment Trading Down 1.2 %

NYSE:MSGE opened at $30.27 on Tuesday. The stock’s 50 day moving average price is $31.45 and its 200 day moving average price is $33.09. Madison Square Garden Entertainment Corp. has a 52 week low of $27.55 and a 52 week high of $40.81. The company has a debt-to-equity ratio of 14.79, a quick ratio of 0.47 and a current ratio of 0.47.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, August 18th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.16. The firm had revenue of $147.90 million during the quarter, compared to analyst estimates of $140.52 million. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. On average, analysts forecast that Madison Square Garden Entertainment Corp. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

MSGE has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Madison Square Garden Entertainment from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, September 1st. JPMorgan Chase & Co. dropped their target price on Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. Bank of America started coverage on Madison Square Garden Entertainment in a report on Tuesday, August 22nd. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Guggenheim upped their target price on Madison Square Garden Entertainment from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Madison Square Garden Entertainment 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.