Madison Square Garden Entertainment (NYSE:MSGE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Madison Square Garden Entertainment (NYSE:MSGE) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other brokerages also recently weighed in on MSGE. Guggenheim boosted their target price on shares of Madison Square Garden Entertainment from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Susquehanna boosted their price target on Madison Square Garden Entertainment from $51.00 to $61.00 and gave the company a “positive” rating in a research report on Thursday, December 11th. Wolfe Research downgraded shares of Madison Square Garden Entertainment from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research note on Monday, December 29th. Finally, The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Madison Square Garden Entertainment in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Madison Square Garden Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $62.04 on Friday. The stock has a market cap of $2.50 billion, a P/E ratio of 88.63 and a beta of 0.39. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $63.10. The stock has a 50-day simple moving average of $55.04 and a 200-day simple moving average of $47.07.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data 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 for 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%. Madison Square Garden Entertainment’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 predict that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its holdings in Madison Square Garden Entertainment by 15.1% in the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after acquiring an additional 226 shares during the last quarter. Rhumbline Advisers lifted its stake in Madison Square Garden Entertainment by 0.4% during the second quarter. Rhumbline Advisers now owns 63,178 shares of the company’s stock valued at $2,525,000 after purchasing an additional 272 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its stake in Madison Square Garden Entertainment by 2.0% during the second quarter. Garden State Investment Advisory Services LLC now owns 15,902 shares of the company’s stock valued at $636,000 after purchasing an additional 306 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Madison Square Garden Entertainment by 1.9% during the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after buying an additional 418 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Madison Square Garden Entertainment by 25.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock worth $89,000 after buying an additional 448 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Company Profile

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.