Y Intercept Hong Kong Ltd Buys Shares of 32,266 Madison Square Garden Entertainment Corp. $MSGE

Y Intercept Hong Kong Ltd bought a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 32,266 shares of the company’s stock, valued at approximately $1,290,000. Y Intercept Hong Kong Ltd owned 0.08% of Madison Square Garden Entertainment as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. KBC Group NV acquired a new position in shares of Madison Square Garden Entertainment in the first quarter worth $31,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madison Square Garden Entertainment in the first quarter worth $40,000. CWM LLC increased its stake in shares of Madison Square Garden Entertainment by 623.8% in the second quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after acquiring an additional 892 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Madison Square Garden Entertainment by 163.0% in the second quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after acquiring an additional 673 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Madison Square Garden Entertainment by 25.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock worth $89,000 after acquiring an additional 448 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Trading Up 0.4%

Madison Square Garden Entertainment stock opened at $44.24 on Monday. 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 company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 58.21 and a beta of 0.48. Madison Square Garden Entertainment Corp. has a one year low of $28.29 and a one year high of $48.09. The company’s fifty day moving average price is $43.69 and its two-hundred day moving average price is $39.58.

Madison Square Garden Entertainment (NYSE:MSGE) last posted 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). The business 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%.The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. On average, analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MSGE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group upped their price target on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.20.

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.