Shell Asset Management Co. Trims Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Shell Asset Management Co. cut its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,187 shares of the company’s stock after selling 572 shares during the quarter. Shell Asset Management Co.’s holdings in Madison Square Garden Entertainment were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MSGE. Rockefeller Capital Management L.P. lifted its position in Madison Square Garden Entertainment by 82.8% during the third quarter. Rockefeller Capital Management L.P. now owns 649 shares of the company’s stock worth $28,000 after buying an additional 294 shares during the period. Eagle Bay Advisors LLC purchased a new position in Madison Square Garden Entertainment during the second quarter worth about $41,000. Sargent Bickham Lagudis LLC lifted its position in Madison Square Garden Entertainment by 216.7% during the third quarter. Sargent Bickham Lagudis LLC now owns 950 shares of the company’s stock worth $42,000 after buying an additional 650 shares during the period. Great West Life Assurance Co. Can purchased a new position in Madison Square Garden Entertainment during the third quarter worth about $58,000. Finally, Point72 Hong Kong Ltd purchased a new position in Madison Square Garden Entertainment during the first quarter worth about $62,000. 73.28% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Price Performance

MSGE stock opened at $62.16 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 0.95. Madison Square Garden Entertainment Corp. has a 1 year low of $38.98 and a 1 year high of $84.57. The firm has a market cap of $2.15 billion, a P/E ratio of -21.73 and a beta of 1.27. The stock has a 50-day simple moving average of $51.65 and a 200-day simple moving average of $50.00.

Analysts Set New Price Targets

Several brokerages have commented on MSGE. Guggenheim dropped their price target on Madison Square Garden Entertainment to $77.00 in a research note on Tuesday, November 15th. Morgan Stanley upped their price target on Madison Square Garden Entertainment from $50.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Jefferies Financial Group lowered Madison Square Garden Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $49.00 in a research note on Tuesday, November 15th. Finally, Oppenheimer dropped their price target on Madison Square Garden Entertainment from $95.00 to $52.00 in a research note on Thursday, November 10th.

Madison Square Garden Entertainment Company Profile

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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.