Madison Square Garden Entertainment (NYSE:MSGE) Raised to “Hold” at Wall Street Zen

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

Other analysts have also issued research reports about the stock. Morgan Stanley raised 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 research report on Tuesday, August 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on shares of 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 analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Madison Square Garden Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

Madison Square Garden Entertainment Stock Down 0.4%

Shares of NYSE MSGE opened at $41.71 on Friday. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $48.09. The firm’s 50 day moving average price is $41.66 and its 200 day moving average price is $38.11. The firm has a market cap of $1.98 billion, a P/E ratio of 54.88 and a beta of 0.49. 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 (NYSE:MSGE) last announced its earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The firm had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. During the same quarter last year, the business posted $1.41 EPS. The firm’s revenue was down 17.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Madison Square Garden Entertainment will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Ariel Investments LLC lifted its holdings in shares of Madison Square Garden Entertainment by 1.6% during the 2nd quarter. Ariel Investments LLC now owns 7,896,008 shares of the company’s stock valued at $315,603,000 after acquiring an additional 120,635 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Madison Square Garden Entertainment by 5.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company’s stock valued at $94,479,000 after acquiring an additional 152,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 in the last quarter. Dendur Capital LP lifted its holdings in shares of Madison Square Garden Entertainment by 60.1% during the 2nd quarter. Dendur Capital LP now owns 925,500 shares of the company’s stock valued at $36,992,000 after acquiring an additional 347,500 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Madison Square Garden Entertainment by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 923,407 shares of the company’s stock valued at $30,232,000 after acquiring an additional 3,930 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

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.