Channing Capital Management LLC Has $90.42 Million Holdings in Madison Square Garden Entertainment Corp. $MSGE

Channing Capital Management LLC lessened its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,998,735 shares of the company’s stock after selling 26,676 shares during the period. Madison Square Garden Entertainment comprises 2.4% of Channing Capital Management LLC’s portfolio, making the stock its 6th largest holding. Channing Capital Management LLC owned about 4.95% of Madison Square Garden Entertainment worth $90,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MSGE. Envestnet Asset Management Inc. lifted its holdings in shares of Madison Square Garden Entertainment by 67.6% during the second quarter. Envestnet Asset Management Inc. now owns 68,315 shares of the company’s stock valued at $2,731,000 after purchasing an additional 27,561 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Madison Square Garden Entertainment in the 2nd quarter worth about $236,000. Creative Planning purchased a new position in Madison Square Garden Entertainment in the 2nd quarter worth about $509,000. Assenagon Asset Management S.A. lifted its stake in Madison Square Garden Entertainment by 23.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company’s stock valued at $46,768,000 after acquiring an additional 198,361 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Madison Square Garden Entertainment by 198.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 19,082 shares of the company’s stock valued at $763,000 after acquiring an additional 12,686 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Up 0.7%

Shares of MSGE stock opened at $63.57 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 15.40. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $65.26. The stock has a market cap of $2.57 billion, a P/E ratio of 58.86 and a beta of 0.39. The company has a 50 day simple moving average of $57.88 and a two-hundred day simple moving average of $49.19.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.35 by ($0.41). Madison Square Garden Entertainment had a negative return on equity of 748.04% and a net margin of 5.12%.The company had revenue of $459.94 million during the quarter, compared to analysts’ expectations of $448.21 million. During the same quarter last year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on MSGE shares. The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Madison Square Garden Entertainment in a research note on Monday, January 5th. Susquehanna lifted their target price on shares of Madison Square Garden Entertainment from $51.00 to $61.00 and gave the stock a “positive” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden Entertainment from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Guggenheim raised their price target on Madison Square Garden Entertainment from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.