DekaBank Deutsche Girozentrale Increases Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

DekaBank Deutsche Girozentrale lifted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 98.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,597 shares of the company’s stock after acquiring an additional 1,290 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Madison Square Garden Entertainment were worth $82,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. increased its position in Madison Square Garden Entertainment by 148.3% during the 2nd quarter. BlackRock Inc. now owns 4,451,189 shares of the company’s stock worth $138,276,000 after purchasing an additional 2,658,518 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter worth approximately $62,652,000. Gamco Investors INC. ET AL increased its position in Madison Square Garden Entertainment by 101.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,789,317 shares of the company’s stock worth $54,497,000 after purchasing an additional 901,608 shares in the last quarter. State Street Corp increased its position in Madison Square Garden Entertainment by 135.6% during the 2nd quarter. State Street Corp now owns 1,323,651 shares of the company’s stock worth $41,015,000 after purchasing an additional 761,764 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Madison Square Garden Entertainment by 146.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,234,424 shares of the company’s stock worth $38,289,000 after purchasing an additional 732,995 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Stock Down 1.6 %

Shares of NYSE:MSGE opened at $37.84 on Thursday. Madison Square Garden Entertainment Corp. has a 52-week low of $27.55 and a 52-week high of $40.81. The company has a 50 day moving average of $38.22 and a two-hundred day moving average of $33.89. The company has a market capitalization of $1.56 billion and a price-to-earnings ratio of 24.57.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.69. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The company had revenue of $402.67 million during the quarter, compared to the consensus estimate of $385.92 million. During the same quarter last year, the company earned $1.95 earnings per share. Madison Square Garden Entertainment’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, CEO James Lawrence Dolan sold 24,284 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $37.31, for a total value of $906,036.04. Following the completion of the sale, the chief executive officer now owns 360,242 shares of the company’s stock, valued at $13,440,629.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 190,080 shares of company stock valued at $7,221,633 over the last 90 days. 18.72% of the stock is owned by corporate insiders.

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.