Vanguard Group Inc. Sells 222,905 Shares of Madison Square Garden Entertainment Corp. $MSGE

Vanguard Group Inc. decreased its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,695,000 shares of the company’s stock after selling 222,905 shares during the quarter. Vanguard Group Inc. owned 9.10% of Madison Square Garden Entertainment worth $120,974,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MSGE. Ariel Investments LLC increased its stake in Madison Square Garden Entertainment by 14.5% in 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 period. Jericho Capital Asset Management L.P. lifted its position in shares of Madison Square Garden Entertainment by 10.9% during 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in 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 valued at $32,164,000 after buying an additional 127,700 shares during the period. Jefferies Financial Group Inc. acquired a new position in Madison Square Garden Entertainment in the fourth quarter valued at approximately $3,111,000. Finally, Voleon Capital Management LP acquired a new position in Madison Square Garden Entertainment in the fourth quarter valued at approximately $1,798,000. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of NYSE:MSGE opened at $37.66 on Friday. The firm has a 50 day moving average of $38.76 and a 200-day moving average of $35.94. The stock has a market capitalization of $1.79 billion, a PE ratio of 49.55 and a beta of 0.44. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The company 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 quarter in the prior year, the company earned $1.41 earnings per share. On average, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MSGE shares. Wall Street Zen lowered shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Morgan Stanley raised their target price on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Susquehanna assumed coverage on shares of Madison Square Garden Entertainment in a research report on Monday, April 28th. They issued a “positive” rating and a $39.00 price objective for the company. Finally, The Goldman Sachs Group lifted 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 research report on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Madison Square Garden Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Madison Square Garden Entertainment Profile

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.