Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Bought by Barclays PLC

Barclays PLC boosted its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 228.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,008 shares of the company’s stock after purchasing an additional 79,292 shares during the period. Barclays PLC’s holdings in Madison Square Garden Entertainment were worth $3,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MSGE. Price T Rowe Associates Inc. MD lifted its position 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 purchasing an additional 474,125 shares during the period. Balyasny Asset Management L.P. acquired a new position in Madison Square Garden Entertainment during the first quarter valued at $18,770,000. Norges Bank purchased a new position in Madison Square Garden Entertainment in the fourth quarter valued at $11,369,000. Nomura Holdings Inc. increased its holdings in Madison Square Garden Entertainment by 4,079.0% in 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 increased its holdings in Madison Square Garden Entertainment by 91.6% in 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MSGE. Morgan Stanley cut 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 report on Friday, September 1st. JPMorgan Chase & Co. cut their price objective on shares of Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Guggenheim lifted their price objective on shares of Madison Square Garden Entertainment from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Finally, Bank of America began coverage on shares of Madison Square Garden Entertainment in a report on Tuesday, August 22nd. They issued a “buy” rating and a $41.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.14.

Madison Square Garden Entertainment Stock Performance

MSGE stock opened at $29.17 on Monday. The firm has a 50-day simple moving average of $31.72 and a 200-day simple moving average of $33.22. The company has a debt-to-equity ratio of 14.79, a current ratio of 0.47 and a quick ratio of 0.55. Madison Square Garden Entertainment Corp. has a 52 week low of $27.55 and a 52 week high of $40.81.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, August 18th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.16. The company had revenue of $147.90 million for the quarter, compared to analysts’ expectations of $140.52 million. Madison Square Garden Entertainment’s quarterly revenue was down 17.0% compared to the same quarter last year. On average, analysts predict that Madison Square Garden Entertainment Corp. will post 0.87 EPS for the current year.

Insider Transactions at Madison Square Garden Entertainment

In related news, major shareholder Entertainment Co. Sphere sold 8,221,188 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $31.20, for a total transaction of $256,501,065.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.72% of the company’s stock.

About Madison Square Garden Entertainment

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.