Intech Investment Management LLC Invests $291,000 in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Intech Investment Management LLC bought a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,835 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC raised its position in Madison Square Garden Entertainment by 913.8% in the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 594 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after purchasing an additional 2,639 shares during the last quarter. OFI Invest Asset Management bought a new position in Madison Square Garden Entertainment in the 2nd quarter worth approximately $251,000. Cannon Global Investment Management LLC bought a new position in Madison Square Garden Entertainment in the 3rd quarter worth approximately $259,000. Finally, Marshall Wace LLP raised its position in shares of Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock valued at $267,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Insider Activity

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the completion of the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This represents a 32.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.85% of the stock is owned by company insiders.

Madison Square Garden Entertainment Stock Down 0.5 %

Shares of MSGE stock opened at $38.66 on Thursday. Madison Square Garden Entertainment Corp. has a 12-month low of $30.00 and a 12-month high of $44.14. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 3.34 and a beta of -0.04. The firm has a fifty day moving average of $40.23 and a 200-day moving average of $38.46.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The company had revenue of $138.70 million during the quarter, compared to analyst estimates of $139.46 million. During the same quarter in the previous year, the business earned ($0.73) EPS. The firm’s revenue was down 2.5% on a year-over-year basis. Research analysts expect that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MSGE. Macquarie dropped their target price on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Guggenheim dropped their target price on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley dropped their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Bank of America upped their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

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.