Madison Square Garden Entertainment Corp. (NYSE:MSGE) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $56.6667.

Several research analysts recently issued reports on MSGE shares. Wall Street Zen raised Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday. Susquehanna lifted their price objective on Madison Square Garden Entertainment from $51.00 to $61.00 and gave the stock a “positive” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. upped their target price on Madison Square Garden Entertainment from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Wolfe Research downgraded shares of Madison Square Garden Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Monday, December 29th.

Madison Square Garden Entertainment Stock Down 2.4%

NYSE:MSGE opened at $60.62 on Wednesday. Madison Square Garden Entertainment has a one year low of $28.29 and a one year high of $65.26. The company has a debt-to-equity ratio of 15.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $2.45 billion, a PE ratio of 56.13 and a beta of 0.38. The firm’s 50 day simple moving average is $59.15 and its 200 day simple moving average is $50.43.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.35 by ($0.41). The business had revenue of $459.94 million for the quarter, compared to the consensus estimate of $448.21 million. Madison Square Garden Entertainment had a net margin of 5.12% and a negative return on equity of 748.04%. Madison Square Garden Entertainment’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. On average, research analysts anticipate that Madison Square Garden Entertainment will post 1.04 earnings per share for the current year.

Insider Transactions at Madison Square Garden Entertainment

In related news, Director Charles P. Dolan sold 19,311 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.76, for a total value of $1,231,269.36. Following the transaction, the director owned 660 shares in the company, valued at $42,081.60. The trade was a 96.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MSGE. First Horizon Corp acquired a new position in shares of Madison Square Garden Entertainment in the 4th quarter valued at about $37,000. CWM LLC increased its holdings in Madison Square Garden Entertainment by 623.8% in the second quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after purchasing an additional 892 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Madison Square Garden Entertainment in the fourth quarter valued at approximately $45,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Madison Square Garden Entertainment during the 4th quarter worth approximately $47,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter worth approximately $59,000. 96.86% of the stock is owned by institutional investors.

Madison Square Garden Entertainment Company Profile

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.