Financial Enhancement Group LLC Makes New $1.16 Million Investment in Madison Square Garden Entertainment Corp. $MSGE

Financial Enhancement Group LLC bought a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,332 shares of the company’s stock, valued at approximately $1,158,000. Financial Enhancement Group LLC owned approximately 0.07% of Madison Square Garden Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. KBC Group NV bought a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at approximately $31,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Madison Square Garden Entertainment during the first quarter worth about $40,000. NBC Securities Inc. increased its holdings in Madison Square Garden Entertainment by 136,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock worth $44,000 after acquiring an additional 1,369 shares during the period. GAMMA Investing LLC boosted its position in Madison Square Garden Entertainment by 1,632.3% during the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company’s stock valued at $82,000 after buying an additional 2,530 shares during the period. Finally, US Bancorp DE boosted its position in shares of Madison Square Garden Entertainment by 2,273.6% in the 1st quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $127,000 after purchasing an additional 3,706 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MSGE shares. Morgan Stanley boosted their target price 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. Wall Street Zen lowered Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

Madison Square Garden Entertainment Trading Down 1.5%

Shares of MSGE stock opened at $45.22 on Monday. The stock’s fifty day moving average price is $40.08 and its two-hundred day moving average price is $36.84. The company has a market cap of $2.15 billion, a PE ratio of 59.50 and a beta of 0.44. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.47 and a current ratio of 0.47. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $46.18.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The company had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. Equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

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.