Deutsche Bank AG Sells 3,244 Shares of Madison Square Garden Entertainment Corp. $MSGE

Deutsche Bank AG decreased its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,428 shares of the company’s stock after selling 3,244 shares during the period. Deutsche Bank AG owned 0.07% of Madison Square Garden Entertainment worth $963,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of Madison Square Garden Entertainment by 2,273.6% in the first quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $127,000 after purchasing an additional 3,706 shares during the period. XTX Topco Ltd acquired a new stake in Madison Square Garden Entertainment in the 1st quarter valued at approximately $1,214,000. Corton Capital Inc. acquired a new stake in Madison Square Garden Entertainment in the 1st quarter valued at approximately $218,000. Pinnacle Associates Ltd. increased its position in Madison Square Garden Entertainment by 3.2% in the 1st quarter. Pinnacle Associates Ltd. now owns 12,836 shares of the company’s stock worth $420,000 after buying an additional 398 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Madison Square Garden Entertainment by 2.5% during the first quarter. Victory Capital Management Inc. now owns 21,313 shares of the company’s stock worth $698,000 after buying an additional 516 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Madison Square Garden Entertainment Stock Up 4.3%

MSGE opened at $39.2770 on Monday. The company has a market capitalization of $1.86 billion, a P/E ratio of 51.68 and a beta of 0.44. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The firm’s fifty day moving average price is $38.81 and its two-hundred day moving average price is $35.97. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last announced 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 business had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. On average, analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MSGE. The Goldman Sachs Group raised their price objective on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a 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 target on the stock. Finally, Wall Street Zen lowered shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.