PDT Partners LLC Sells 41,030 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

PDT Partners LLC lessened its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 84.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,591 shares of the company’s stock after selling 41,030 shares during the quarter. PDT Partners LLC’s holdings in Madison Square Garden Entertainment were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSGE. Price T Rowe Associates Inc. MD boosted its position in Madison Square Garden Entertainment by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,210 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,516 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Madison Square Garden Entertainment by 4,104.7% in the first quarter. Public Employees Retirement System of Ohio now owns 10,680 shares of the company’s stock valued at $419,000 after acquiring an additional 10,426 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Madison Square Garden Entertainment by 101.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after acquiring an additional 2,639 shares during the period. Simplicity Wealth LLC boosted its position in shares of Madison Square Garden Entertainment by 0.6% in the second quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock valued at $2,591,000 after acquiring an additional 482 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Madison Square Garden Entertainment in the second quarter valued at approximately $354,000. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of Madison Square Garden Entertainment stock opened at $38.87 on Wednesday. Madison Square Garden Entertainment Corp. has a 1 year low of $30.00 and a 1 year high of $44.14. The firm has a market cap of $1.87 billion, a PE ratio of 10.62, a PEG ratio of 3.34 and a beta of -0.04. The company has a 50 day simple moving average of $40.29 and a two-hundred day simple moving average of $38.46.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.39. The firm had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.73) earnings per share. As a group, research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current year.

Insiders Place Their Bets

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America raised their price objective on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Guggenheim dropped their target price on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Macquarie dropped their target price on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley dropped their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.00.

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.