Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 182.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,200 shares of the company’s stock after purchasing an additional 53,100 shares during the period. Renaissance Technologies LLC owned 0.20% of Madison Square Garden Entertainment worth $2,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSGE. PNC Financial Services Group Inc. grew its holdings in shares of Madison Square Garden Entertainment by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,521 shares of the company’s stock valued at $271,000 after acquiring an additional 450 shares in the last quarter. Simplicity Wealth LLC grew its holdings in shares of Madison Square Garden Entertainment by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock valued at $2,591,000 after acquiring an additional 482 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Madison Square Garden Entertainment by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 7,143 shares of the company’s stock valued at $280,000 after acquiring an additional 561 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Madison Square Garden Entertainment by 1,838.2% during the 1st quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 625 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Madison Square Garden Entertainment by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock valued at $292,000 after acquiring an additional 805 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Madison Square Garden Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Bank of America boosted their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Macquarie upped their price objective on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.20.

Madison Square Garden Entertainment Trading Up 0.9 %

Shares of NYSE:MSGE opened at $42.54 on Tuesday. The stock has a market capitalization of $1.75 billion, a PE ratio of 36.05, a P/E/G ratio of 3.64 and a beta of 0.13. Madison Square Garden Entertainment Corp. has a 1 year low of $27.55 and a 1 year high of $42.99. The firm has a fifty day moving average price of $39.98 and a 200 day moving average price of $38.00.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, August 16th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $1.97. The firm had revenue of $186.10 million during the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS. On average, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.64 earnings per share for the current fiscal year.

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.