12,726 Shares in Madison Square Garden Entertainment Corp. $MSGE Bought by Creative Planning

Creative Planning bought a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 12,726 shares of the company’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC lifted 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 period. Cullen Frost Bankers Inc. raised its holdings in Madison Square Garden Entertainment by 163.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock worth $43,000 after purchasing an additional 673 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter worth approximately $40,000. KBC Group NV boosted its stake in shares of Madison Square Garden Entertainment by 80.1% in the 2nd quarter. KBC Group NV now owns 1,688 shares of the company’s stock valued at $67,000 after purchasing an additional 751 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Madison Square Garden Entertainment by 25.3% during the second quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock worth $89,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $51.82 on Friday. Madison Square Garden Entertainment Corp. has a one year low of $28.29 and a one year high of $52.25. The company has a market cap of $2.09 billion, a PE ratio of 74.03 and a beta of 0.43. The stock has a 50-day moving average of $46.22 and a 200-day moving average of $41.85. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.48 and a quick ratio of 0.48.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.13. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The business had revenue of $158.26 million for the quarter, compared to the consensus estimate of $156.62 million. During the same period in the prior year, the business earned ($0.40) EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

MSGE has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday. Wall Street Zen raised Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley upped 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. JPMorgan Chase & Co. lifted their target price on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.50.

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.