Northern Trust Corp Purchases 154,888 Shares of Madison Square Garden Entertainment Corp. $MSGE

Northern Trust Corp lifted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 670,883 shares of the company’s stock after purchasing an additional 154,888 shares during the quarter. Northern Trust Corp owned 1.65% of Madison Square Garden Entertainment worth $21,965,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KBC Group NV acquired a new stake in shares of Madison Square Garden Entertainment during the 1st quarter worth $31,000. NBC Securities Inc. grew its holdings in shares of Madison Square Garden Entertainment by 136,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock worth $44,000 after purchasing an additional 1,369 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Madison Square Garden Entertainment by 1,632.3% during the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company’s stock worth $82,000 after purchasing an additional 2,530 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Madison Square Garden Entertainment by 26.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after purchasing an additional 504 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Madison Square Garden Entertainment by 2,273.6% during the 1st quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $127,000 after purchasing an additional 3,706 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock opened at $40.63 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment Corp. has a twelve month low of $28.29 and a twelve month high of $44.14. The company has a market cap of $1.93 billion, a P/E ratio of 53.47 and a beta of 0.44. The business has a fifty day simple moving average of $39.07 and a 200 day simple moving average of $36.05.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The business had revenue of $154.14 million for the quarter, compared to the consensus estimate of $151.17 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. Madison Square Garden Entertainment’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on MSGE shares. Morgan Stanley increased their target price on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Wall Street Zen downgraded Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, The Goldman Sachs Group upped their price objective on Madison Square Garden Entertainment from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.