Rhumbline Advisers Has $2.06 Million Position in Madison Square Garden Entertainment Corp. $MSGE

Rhumbline Advisers trimmed its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,906 shares of the company’s stock after selling 1,256 shares during the quarter. Rhumbline Advisers owned about 0.15% of Madison Square Garden Entertainment worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $31,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at about $40,000. NBC Securities Inc. increased its position in Madison Square Garden Entertainment by 136,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock valued at $44,000 after buying an additional 1,369 shares in the last quarter. GAMMA Investing LLC increased its position in Madison Square Garden Entertainment by 1,632.3% in the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company’s stock valued at $82,000 after buying an additional 2,530 shares in the last quarter. Finally, US Bancorp DE increased its position in Madison Square Garden Entertainment by 2,273.6% in the 1st quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $127,000 after buying 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 Trading Up 0.7%

Madison Square Garden Entertainment stock opened at $44.90 on Thursday. The stock has a market cap of $2.13 billion, a P/E ratio of 59.08 and a beta of 0.44. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $45.57. The firm’s fifty day moving average price is $39.83 and its 200-day moving average price is $36.61. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.47 and a current ratio of 0.47.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results 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). The firm had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The company’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 company posted $1.41 EPS. Equities research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MSGE. Wall Street Zen lowered Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Morgan Stanley boosted their target price on 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. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Madison Square Garden Entertainment Company 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.