Arizona State Retirement System Purchases 2,116 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Arizona State Retirement System raised its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 24.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,916 shares of the company’s stock after buying an additional 2,116 shares during the period. Arizona State Retirement System’s holdings in Madison Square Garden Entertainment were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Weik Capital Management raised its stake in Madison Square Garden Entertainment by 5.2% in the first quarter. Weik Capital Management now owns 4,670 shares of the company’s stock valued at $389,000 after buying an additional 230 shares during the last quarter. Sei Investments Co. raised its position in shares of Madison Square Garden Entertainment by 3.2% in the 1st quarter. Sei Investments Co. now owns 8,380 shares of the company’s stock valued at $707,000 after purchasing an additional 261 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Madison Square Garden Entertainment by 40.1% in the 3rd 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 in the last quarter. American Century Companies Inc. grew its position in Madison Square Garden Entertainment by 17.8% during the 1st quarter. American Century Companies Inc. now owns 3,937 shares of the company’s stock worth $328,000 after purchasing an additional 595 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Madison Square Garden Entertainment by 2.1% during the 4th quarter. Alliancebernstein L.P. now owns 29,060 shares of the company’s stock valued at $1,307,000 after purchasing an additional 600 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors.

Insider Transactions at Madison Square Garden Entertainment

In related news, CEO James Lawrence Dolan sold 28,796 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 292,143 shares in the company, valued at $11,016,712.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 190,080 shares of company stock worth $7,221,633 over the last three months. 18.72% of the stock is currently owned by insiders.

Madison Square Garden Entertainment Trading Up 0.9 %

NYSE MSGE opened at $37.94 on Friday. Madison Square Garden Entertainment Corp. has a 12-month low of $27.55 and a 12-month high of $40.81. The company has a fifty day simple moving average of $38.26 and a two-hundred day simple moving average of $33.96. The stock has a market cap of $1.56 billion and a P/E ratio of 24.64.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.69. The company had revenue of $402.67 million during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $1.95 EPS. As a group, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share for the current year.

Madison Square Garden Entertainment 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.