AlphaQuest LLC Sells 11,679 Shares of Madison Square Garden Entertainment Corp. $MSGE

AlphaQuest LLC lowered its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 88.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,542 shares of the company’s stock after selling 11,679 shares during the quarter. AlphaQuest LLC’s holdings in Madison Square Garden Entertainment were worth $50,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV acquired a new position in Madison Square Garden Entertainment during the first quarter valued at approximately $31,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Madison Square Garden Entertainment during the first quarter valued at approximately $40,000. NBC Securities Inc. grew its holdings in Madison Square Garden Entertainment by 136,900.0% during the first quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock valued at $44,000 after purchasing an additional 1,369 shares during the period. Tower Research Capital LLC TRC grew its holdings in Madison Square Garden Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock valued at $86,000 after purchasing an additional 504 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Madison Square Garden Entertainment by 1,632.3% during the first quarter. GAMMA Investing LLC now owns 2,685 shares of the company’s stock valued at $82,000 after purchasing an additional 2,530 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analyst Ratings Changes

MSGE has been the subject of a number of analyst reports. Wall Street Zen cut shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Morgan Stanley boosted their price objective 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $40.57 on Friday. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $44.14. The firm has a fifty day simple moving average of $39.08 and a 200 day simple moving average of $36.15. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 53.38 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 (NYSE:MSGE) last announced its earnings results on Wednesday, August 13th. The company reported ($0.50) EPS 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 analyst estimates of $151.17 million. During the same quarter in the previous year, the company posted $1.41 EPS. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. Research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal 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.