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

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

Several other equities research analysts also recently commented on MSGE. JPMorgan Chase & Co. upped their target price on shares of Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on 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, The Goldman Sachs Group boosted their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.50.

Madison Square Garden Entertainment Trading Up 5.3%

NYSE:MSGE opened at $46.61 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $48.09. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 66.59 and a beta of 0.48. The business’s 50-day moving average price is $44.16 and its two-hundred day moving average price is $40.08.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.13. The company had revenue of $158.26 million during the quarter, compared to analyst estimates of $156.62 million. Madison Square Garden Entertainment had a return on equity of 2,102.70% and a net margin of 3.65%.The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.40) EPS. On average, equities analysts expect 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

Several hedge funds have recently made changes to their positions in the business. AlphaQuest LLC lifted its position in shares of Madison Square Garden Entertainment by 198.6% in the third quarter. AlphaQuest LLC now owns 4,593 shares of the company’s stock worth $208,000 after purchasing an additional 3,055 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Madison Square Garden Entertainment during the 3rd quarter worth about $59,000. SG Americas Securities LLC acquired a new position in shares of Madison Square Garden Entertainment during the 3rd quarter worth about $179,000. CWM LLC grew its holdings in shares of Madison Square Garden Entertainment by 44.6% in the 3rd quarter. CWM LLC now owns 1,497 shares of the company’s stock valued at $68,000 after acquiring an additional 462 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Madison Square Garden Entertainment by 23.7% in 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. 96.86% of the stock is owned by institutional investors.

About Madison Square Garden Entertainment

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.