Madison Square Garden Entertainment (NYSE:MSGE) Stock Rating Upgraded by Wall Street Zen

Madison Square Garden Entertainment (NYSE:MSGE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages have also issued reports on MSGE. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research note on Monday. JPMorgan Chase & Co. increased their target price on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group raised their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Madison Square Garden Entertainment Trading Up 0.6%

Shares of MSGE stock opened at $51.82 on Friday. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market cap of $2.09 billion, a PE ratio of 74.03 and a beta of 0.43. The company has a 50-day moving average of $46.22 and a two-hundred day moving average of $41.85. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $52.25.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. Madison Square Garden Entertainment had a net margin of 3.65% and a negative return on equity of 310.15%. 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 previous year, the firm earned ($0.40) EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Institutional Trading of Madison Square Garden Entertainment

Hedge funds have recently modified their holdings of the stock. Maverick Capital Ltd. raised its holdings in Madison Square Garden Entertainment by 119.7% in the first quarter. Maverick Capital Ltd. now owns 18,003 shares of the company’s stock valued at $589,000 after acquiring an additional 9,808 shares in the last quarter. Northern Trust Corp grew its holdings in Madison Square Garden Entertainment by 30.0% during the 1st quarter. Northern Trust Corp now owns 670,883 shares of the company’s stock worth $21,965,000 after acquiring an additional 154,888 shares in the last quarter. Nuveen LLC acquired a new position in Madison Square Garden Entertainment during the 1st quarter worth approximately $5,055,000. Long Pond Capital LP purchased a new stake in shares of Madison Square Garden Entertainment in the 1st quarter valued at approximately $13,630,000. Finally, Northern Right Capital Management L.P. raised its holdings in shares of Madison Square Garden Entertainment by 16.4% in the 1st quarter. Northern Right Capital Management L.P. now owns 478,256 shares of the company’s stock valued at $15,658,000 after purchasing an additional 67,228 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

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.