Madison Square Garden Entertainment Corp. $MSGE Stock Position Lifted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 444.0% during the third quarter, Holdings Channel reports. The institutional investor owned 13,600 shares of the company’s stock after buying an additional 11,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Madison Square Garden Entertainment were worth $1,089,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gibbs Wealth Management acquired a new stake in shares of Madison Square Garden Entertainment in the 3rd quarter valued at $454,000. Sterling Capital Management LLC lifted its stake in shares of Madison Square Garden Entertainment by 840.0% during the third quarter. Sterling Capital Management LLC now owns 1,316 shares of the company’s stock valued at $105,000 after acquiring an additional 1,176 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Madison Square Garden Entertainment by 62.7% during the third quarter. Nisa Investment Advisors LLC now owns 5,484 shares of the company’s stock valued at $439,000 after acquiring an additional 2,113 shares during the period. Diversify Advisory Services LLC bought a new position in Madison Square Garden Entertainment in the third quarter valued at about $1,757,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Madison Square Garden Entertainment in the third quarter valued at about $705,000. 96.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on MSGE. Zacks Research lowered Madison Square Garden Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Bank of America upped their target price on shares of Madison Square Garden Entertainment from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 14th. The Goldman Sachs Group lowered shares of Madison Square Garden Entertainment from a “buy” rating to a “neutral” rating and raised their target price for the company from $72.00 to $82.00 in a research note on Thursday, July 9th. Susquehanna raised their target price on shares of Madison Square Garden Entertainment from $92.00 to $93.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, October 29th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.50.

Key Headlines Impacting Madison Square Garden Entertainment

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: Fiscal Q1 revenue rose 37.2% year over year to $217.1 million, exceeding estimates of about $208.1 million. MSGE earned $0.19 per share, versus expectations for a loss, and compared with a loss of $0.46 a year earlier. A record number of concerts at Madison Square Garden and demand linked to Harry Styles’ performances contributed to the revenue growth. Fiscal 2027 first-quarter results
• Positive Sentiment: Susquehanna raised its price target from $92 to $93 and retained a positive rating. JPMorgan also raised its target, from $83 to $84, although it maintained a neutral rating. Susquehanna recommendations JPMorgan recommendations
• Positive Sentiment: Management repurchased $25 million of Class A shares during the quarter. MSGE also plans 231 performances of its Christmas Spectacular in fiscal 2027 and anticipates more than 1.2 million guests, signaling a substantial upcoming event slate. Long-term investor takeaways Christmas Spectacular plans
• Neutral Sentiment: Despite the upbeat earnings and analyst updates, the supplied reports do not explain why MSGE shares moved lower in trading.

Madison Square Garden Entertainment Stock Performance

Shares of Madison Square Garden Entertainment stock opened at $75.58 on Friday. The firm has a fifty day moving average of $79.13 and a two-hundred day moving average of $70.80. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 37.23 and a beta of 0.56. Madison Square Garden Entertainment Corp. has a 52 week low of $43.33 and a 52 week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.24. Madison Square Garden Entertainment had a return on equity of 248.45% and a net margin of 8.64%. The business had revenue of $217.13 million for the quarter, compared to analyst estimates of $208.11 million. During the same period last year, the company earned ($0.46) EPS. The firm’s revenue was up 37.2% on a year-over-year basis. As a group, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 2.51 EPS for the current year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and manages prominent entertainment venues and produces live events. Its portfolio includes Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, as well as the Hulu Theater at Madison Square Garden.

The company presents and promotes concerts, family entertainment, comedy shows, sporting events and other special events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and supports a range of entertainment experiences through its venue operations, booking activities and event-related services.

Madison Square Garden Entertainment primarily serves audiences in the United States, with a concentration in New York City and Chicago.