Wilmington Savings Fund Society FSB Invests $242,000 in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Wilmington Savings Fund Society FSB bought a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the third quarter, Holdings Channel reports. The fund bought 5,691 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC grew its holdings in shares of Madison Square Garden Entertainment by 913.8% in the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after acquiring an additional 594 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth $219,000. Captrust Financial Advisors acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth $227,000. Cannon Global Investment Management LLC acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth $259,000. Finally, Intech Investment Management LLC acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth $291,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was 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 trade was a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MSGE. Morgan Stanley decreased their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Macquarie lowered their price target on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their price target on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Madison Square Garden Entertainment Trading Up 0.7 %

MSGE opened at $34.47 on Wednesday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 3.20 and a beta of -0.04. Madison Square Garden Entertainment Corp. has a 1 year low of $30.10 and a 1 year high of $44.14. The stock has a fifty day moving average price of $39.12 and a 200 day moving average price of $38.46.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.39. The firm had revenue of $138.70 million during the quarter, compared to analysts’ expectations of $139.46 million. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.73) earnings per share. As a group, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

About Madison Square Garden Entertainment

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.