Susquehanna Raises Madison Square Garden Entertainment (NYSE:MSGE) Price Target to $61.00

Madison Square Garden Entertainment (NYSE:MSGE) had its price objective hoisted by stock analysts at Susquehanna from $51.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 10.01% from the stock’s previous close.

Several other analysts have also recently weighed in on MSGE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday. Wall Street Zen raised shares of Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. The Goldman Sachs Group raised their price objective on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.17.

Madison Square Garden Entertainment Stock Up 4.0%

Shares of NYSE:MSGE traded up $2.15 during trading on Thursday, hitting $55.45. The company’s stock had a trading volume of 111,913 shares, compared to its average volume of 341,527. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $55.75. The business has a 50 day moving average price of $46.64 and a two-hundred day moving average price of $42.22. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $2.24 billion, a PE ratio of 79.30 and a beta of 0.43.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The firm had revenue of $158.26 million during the quarter, compared to analyst estimates of $156.62 million. During the same period last year, the business posted ($0.40) earnings per share. Madison Square Garden Entertainment’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Madison Square Garden Entertainment during the first quarter worth $40,000. CWM LLC raised its holdings in shares of Madison Square Garden Entertainment by 623.8% during the 2nd quarter. CWM LLC now owns 1,035 shares of the company’s stock valued at $41,000 after buying an additional 892 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Madison Square Garden Entertainment by 163.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after purchasing an additional 673 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Madison Square Garden Entertainment in the third quarter valued at about $59,000. Finally, State of Wyoming acquired a new position in Madison Square Garden Entertainment in the second quarter worth $62,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.