Philip Gerard D’ambrosio Sells 6,000 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock

Madison Square Garden Entertainment Corp. (NYSE:MSGE) EVP Philip Gerard D’ambrosio sold 6,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the completion of the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at $517,306.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Madison Square Garden Entertainment Trading Down 2.0 %

NYSE:MSGE opened at $41.39 on Friday. Madison Square Garden Entertainment Corp. has a 12 month low of $27.55 and a 12 month high of $42.99. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.64 and a beta of 0.13. The firm has a fifty day simple moving average of $40.17 and a two-hundred day simple moving average of $38.09.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its earnings results on Friday, August 16th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of ($0.56) by $1.97. The company had revenue of $186.10 million during the quarter, compared to the consensus estimate of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business posted ($0.47) EPS. Equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $45.00 in a research report on Wednesday, July 24th. Bank of America increased their price objective on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, Macquarie boosted their target price on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.20.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Institutional investors have recently modified their holdings of the company. Quent Capital LLC increased its stake in Madison Square Garden Entertainment by 1,838.2% during the 1st quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $26,000 after purchasing an additional 625 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of Madison Square Garden Entertainment during the first quarter worth about $573,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after acquiring an additional 2,639 shares during the last quarter. Principal Financial Group Inc. bought a new position in Madison Square Garden Entertainment in the 1st quarter valued at about $205,000. Finally, ProShare Advisors LLC boosted its stake in Madison Square Garden Entertainment by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 7,143 shares of the company’s stock valued at $280,000 after purchasing an additional 561 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.