Jackson Creek Investment Advisors LLC Purchases New Position in Madison Square Garden Entertainment Corp. $MSGE

Jackson Creek Investment Advisors LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the fourth quarter, HoldingsChannel reports. The fund purchased 8,950 shares of the company’s stock, valued at approximately $482,000.

A number of other institutional investors have also recently made changes to their positions in MSGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Madison Square Garden Entertainment by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock valued at $775,000 after acquiring an additional 1,193 shares during the last quarter. Millennium Management LLC bought a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $4,994,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $210,000. Jane Street Group LLC bought a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $1,468,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Madison Square Garden Entertainment by 53.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after acquiring an additional 35,678 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

Madison Square Garden Entertainment stock opened at $70.18 on Thursday. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. Madison Square Garden Entertainment Corp. has a 1-year low of $35.31 and a 1-year high of $71.78. The firm has a market capitalization of $2.84 billion, a P/E ratio of 68.80 and a beta of 0.61. The company’s 50-day moving average is $62.82 and its 200 day moving average is $58.27.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The firm had revenue of $246.26 million during the quarter, compared to analysts’ expectations of $242.99 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Guggenheim increased their price target on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One equities 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. According to MarketBeat.com, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and an average price target of $64.33.

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.