Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 135.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,168 shares of the company’s stock after buying an additional 173,589 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Madison Square Garden Entertainment worth $9,380,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MYDA Advisors LLC purchased a new stake in shares of Madison Square Garden Entertainment during the first quarter valued at $1,300,000. American Century Companies Inc. grew its holdings in shares of Madison Square Garden Entertainment by 12.9% during the first quarter. American Century Companies Inc. now owns 125,828 shares of the company’s stock valued at $7,196,000 after buying an additional 14,410 shares during the last quarter. Barclays PLC grew its holdings in shares of Madison Square Garden Entertainment by 390.7% during the first quarter. Barclays PLC now owns 34,716 shares of the company’s stock valued at $2,050,000 after buying an additional 27,641 shares during the last quarter. O Keefe Stevens Advisory Inc. purchased a new stake in shares of Madison Square Garden Entertainment during the second quarter valued at $2,465,000. Finally, Arizona State Retirement System grew its holdings in shares of Madison Square Garden Entertainment by 4.8% during the second quarter. Arizona State Retirement System now owns 7,567 shares of the company’s stock valued at $254,000 after buying an additional 348 shares during the last quarter. 70.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Madison Square Garden Entertainment

In other news, major shareholder Entertainment Co. Sphere sold 8,221,188 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.72% of the company’s stock.

Madison Square Garden Entertainment Stock Up 2.1 %

MSGE stock opened at $30.67 on Friday. The company’s 50-day simple moving average is $31.49 and its 200-day simple moving average is $33.12. The company has a debt-to-equity ratio of 14.79, a current ratio of 0.47 and a quick ratio of 0.47. 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 posted its earnings results on Friday, August 18th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.16. The firm 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% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Entertainment Corp. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

MSGE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. 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 target on the stock. Morgan Stanley lowered their price target on shares of Madison Square Garden Entertainment from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, September 1st. Finally, Guggenheim upped their price target 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.83.

Madison Square Garden Entertainment Company Profile

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.