Madison Square Garden Entertainment Corp. $MSGE is Ariel Investments LLC’s Largest Position

Ariel Investments LLC increased its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,896,008 shares of the company’s stock after purchasing an additional 120,635 shares during the period. Madison Square Garden Entertainment accounts for 3.6% of Ariel Investments LLC’s investment portfolio, making the stock its largest holding. Ariel Investments LLC owned 19.45% of Madison Square Garden Entertainment worth $315,603,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Madison Square Garden Entertainment by 2,273.6% during the first quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $127,000 after buying an additional 3,706 shares during the period. Nuveen LLC purchased a new stake in Madison Square Garden Entertainment during the 1st quarter valued at approximately $5,055,000. Fox Run Management L.L.C. purchased a new stake in Madison Square Garden Entertainment during the 1st quarter valued at approximately $290,000. Algert Global LLC acquired a new stake in Madison Square Garden Entertainment during the 1st quarter worth approximately $332,000. Finally, Northern Trust Corp grew its stake in shares of Madison Square Garden Entertainment by 30.0% in the 1st quarter. Northern Trust Corp now owns 670,883 shares of the company’s stock valued at $21,965,000 after purchasing an additional 154,888 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Trading Up 1.3%

NYSE:MSGE opened at $52.98 on Wednesday. Madison Square Garden Entertainment Corp. has a 52-week low of $28.29 and a 52-week high of $53.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 60.61. The stock has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $42.14. The company has a market capitalization of $2.14 billion, a PE ratio of 75.68 and a beta of 0.43.

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

Analysts Set New Price Targets

Several research firms have recently commented on MSGE. Wall Street Zen upgraded Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group upped their price objective on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research note on Monday. Morgan Stanley increased 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 report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating and three have assigned 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 $45.50.

Madison Square Garden Entertainment 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.