Nisa Investment Advisors LLC Trims Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Nisa Investment Advisors LLC lowered its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,307 shares of the company’s stock after selling 790 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Madison Square Garden Entertainment were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MSGE. BlackRock Inc. raised its stake in shares of Madison Square Garden Entertainment by 148.3% in the second quarter. BlackRock Inc. now owns 4,451,189 shares of the company’s stock valued at $138,276,000 after acquiring an additional 2,658,518 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at $62,652,000. Gamco Investors INC. ET AL raised its stake in shares of Madison Square Garden Entertainment by 101.6% in the second quarter. Gamco Investors INC. ET AL now owns 1,789,317 shares of the company’s stock valued at $54,497,000 after acquiring an additional 901,608 shares during the period. State Street Corp raised its stake in shares of Madison Square Garden Entertainment by 135.6% in the second quarter. State Street Corp now owns 1,323,651 shares of the company’s stock valued at $41,015,000 after acquiring an additional 761,764 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Madison Square Garden Entertainment by 146.2% in the second quarter. Geode Capital Management LLC now owns 1,234,424 shares of the company’s stock valued at $38,289,000 after acquiring an additional 732,995 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Up 0.9 %

NYSE MSGE opened at $37.94 on Monday. The company’s 50-day moving average price is $38.26 and its 200-day moving average price is $33.96. The stock has a market cap of $1.56 billion and a PE ratio of 24.64. Madison Square Garden Entertainment Corp. has a 12 month low of $27.55 and a 12 month high of $40.81.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.69. The firm had revenue of $402.67 million for the quarter, compared to analysts’ expectations of $385.92 million. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. As a group, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share for the current year.

Insider Transactions at Madison Square Garden Entertainment

In other news, CEO James Lawrence Dolan sold 37,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $38.10, for a total value of $1,409,700.00. Following the transaction, the chief executive officer now directly owns 155,143 shares in the company, valued at $5,910,948.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 190,080 shares of company stock worth $7,221,633. Insiders own 18.72% of the company’s stock.

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.