US Bancorp DE Raises Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

US Bancorp DE lifted its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 2,273.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,869 shares of the company’s stock after buying an additional 3,706 shares during the quarter. US Bancorp DE’s holdings in Madison Square Garden Entertainment were worth $127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MSGE. Ariel Investments LLC increased its position in Madison Square Garden Entertainment by 14.5% during the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company’s stock valued at $270,722,000 after acquiring an additional 964,657 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings in shares of Madison Square Garden Entertainment by 10.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company’s stock worth $97,321,000 after purchasing an additional 268,000 shares during the last quarter. Dendur Capital LP bought a new position in shares of Madison Square Garden Entertainment in the fourth quarter worth about $5,256,000. Assenagon Asset Management S.A. grew its holdings in shares of Madison Square Garden Entertainment by 14.9% in the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company’s stock worth $32,164,000 after purchasing an additional 127,700 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Madison Square Garden Entertainment in the fourth quarter worth about $3,111,000. Institutional investors own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

MSGE has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group upped their price objective on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Susquehanna began coverage on shares of Madison Square Garden Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

Madison Square Garden Entertainment Price Performance

Shares of NYSE MSGE opened at $36.71 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 48.30 and a beta of 0.44. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $44.14. The firm’s 50 day simple moving average is $38.76 and its 200-day simple moving average is $35.91. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.57.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The firm had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%. Madison Square Garden Entertainment’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.