Simplicity Solutions LLC Grows Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Simplicity Solutions LLC lifted its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,235 shares of the company’s stock after buying an additional 14,734 shares during the period. Simplicity Solutions LLC’s holdings in Madison Square Garden Entertainment were worth $2,424,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MSGE. DekaBank Deutsche Girozentrale purchased a new position in Madison Square Garden Entertainment in the third quarter worth about $43,000. Lazard Asset Management LLC purchased a new position in Madison Square Garden Entertainment in the third quarter worth about $43,000. National Bank of Canada FI boosted its position in Madison Square Garden Entertainment by 359.3% in the third quarter. National Bank of Canada FI now owns 1,534 shares of the company’s stock worth $50,000 after purchasing an additional 1,200 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Madison Square Garden Entertainment in the first quarter worth about $62,000. Finally, Tower Research Capital LLC TRC boosted its position in Madison Square Garden Entertainment by 40.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,800 shares of the company’s stock worth $79,000 after purchasing an additional 515 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE opened at $39.16 on Monday. The stock has a market capitalization of $1.61 billion and a price-to-earnings ratio of 25.43. The stock’s 50-day simple moving average is $38.01 and its two-hundred day simple moving average is $33.78. 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 announced its earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.69. The business had revenue of $402.67 million for the quarter, compared to analysts’ expectations of $385.92 million. Madison Square Garden Entertainment had a negative return on equity of 94.05% and a net margin of 8.03%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $1.95 earnings per share. As a group, equities analysts forecast that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Madison Square Garden Entertainment

In other news, CEO James Lawrence Dolan sold 28,796 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $37.71, for a total value of $1,085,897.16. Following the transaction, the chief executive officer now owns 292,143 shares of the company’s stock, valued at $11,016,712.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 190,080 shares of company stock valued at $7,221,633 over the last quarter. 18.72% of the stock is currently owned by company insiders.

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.