Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,687 shares of the company’s stock after acquiring an additional 2,370 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madison Square Garden Entertainment were worth $340,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new stake in shares of Madison Square Garden Entertainment in the third quarter worth $211,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Madison Square Garden Entertainment by 1,010.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 107,842 shares of the company’s stock worth $3,549,000 after purchasing an additional 98,130 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Madison Square Garden Entertainment by 225.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 81,031 shares of the company’s stock worth $2,667,000 after buying an additional 56,119 shares during the last quarter. Capula Management Ltd bought a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth about $1,010,000. Finally, NBC Securities Inc. acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter valued at about $209,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Trading Up 2.1 %

NYSE:MSGE opened at $40.30 on Friday. The firm has a market capitalization of $1.66 billion and a PE ratio of 26.17. Madison Square Garden Entertainment Corp. has a 52 week low of $27.55 and a 52 week high of $41.58. The stock has a 50 day moving average of $38.71 and a 200-day moving average of $34.43.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. As a group, analysts predict that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, CEO James Lawrence Dolan sold 100,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $38.20, for a total value of $3,820,000.00. Following the completion of the transaction, the chief executive officer now directly owns 192,143 shares in the company, valued at $7,339,862.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 190,080 shares of company stock valued at $7,221,633. Company insiders own 18.72% of the company’s stock.

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.