New York State Common Retirement Fund Sells 49,506 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

New York State Common Retirement Fund decreased its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 422,764 shares of the company’s stock after selling 49,506 shares during the period. New York State Common Retirement Fund’s holdings in Madison Square Garden Entertainment were worth $13,440,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Madison Square Garden Entertainment by 16.3% during the 3rd quarter. Arizona State Retirement System now owns 8,800 shares of the company’s stock valued at $290,000 after buying an additional 1,233 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Madison Square Garden Entertainment by 98.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,597 shares of the company’s stock worth $82,000 after purchasing an additional 1,290 shares during the period. Versor Investments LP boosted its holdings in shares of Madison Square Garden Entertainment by 21.2% during the third quarter. Versor Investments LP now owns 9,700 shares of the company’s stock worth $319,000 after purchasing an additional 1,699 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Madison Square Garden Entertainment by 28.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,687 shares of the company’s stock worth $340,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in Madison Square Garden Entertainment during the 3rd quarter valued at about $191,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Price Performance

MSGE opened at $40.10 on Tuesday. Madison Square Garden Entertainment Corp. has a one year low of $27.55 and a one year high of $40.81. The business has a 50 day simple moving average of $38.53 and a two-hundred day simple moving average of $34.25. The firm has a market capitalization of $1.65 billion and a price-to-earnings ratio of 26.04.

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

Insiders Place Their Bets

In other news, CEO James Lawrence Dolan sold 28,796 shares of Madison Square Garden Entertainment stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $37.71, for a total transaction of $1,085,897.16. Following the sale, the chief executive officer now owns 292,143 shares of the company’s stock, valued at approximately $11,016,712.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 190,080 shares of company stock worth $7,221,633. 18.72% of the stock is currently 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.