Madison Square Garden Entertainment Corp. $MSGE Shares Purchased by Group One Trading LLC

Group One Trading LLC boosted its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 39,604.0% in the 1st quarter, Holdings Channel reports. The fund owned 40,101 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Group One Trading LLC’s holdings in Madison Square Garden Entertainment were worth $2,362,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Madison Square Garden Entertainment by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock worth $775,000 after purchasing an additional 1,193 shares during the period. Millennium Management LLC purchased a new stake in shares of Madison Square Garden Entertainment in the first quarter valued at $4,994,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Madison Square Garden Entertainment in the first quarter valued at $210,000. Jane Street Group LLC acquired a new position in Madison Square Garden Entertainment in the first quarter valued at $1,468,000. Finally, JPMorgan Chase & Co. increased its stake in Madison Square Garden Entertainment by 53.5% in the second quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after purchasing an additional 35,678 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $77.98 on Thursday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 76.46 and a beta of 0.54. Madison Square Garden Entertainment Corp. has a 1-year low of $35.31 and a 1-year high of $82.79. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day simple moving average is $73.81 and its 200-day simple moving average is $65.07.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The business had revenue of $246.26 million for the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. Equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MSGE. Morgan Stanley raised their target price on shares of Madison Square Garden Entertainment from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Susquehanna increased their price target on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the stock a “positive” rating in a research note on Thursday, May 28th. Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden Entertainment from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Seaport Research Partners reissued a “neutral” rating on shares of Madison Square Garden Entertainment in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden Entertainment has an average rating of “Hold” and an average price target of $79.83.

Insiders Place Their Bets

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $74.48, for a total transaction of $737,873.36. Following the completion of the sale, the executive vice president directly owned 15,772 shares in the company, valued at $1,174,698.56. The trade was a 38.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.41% of the stock is currently owned by company insiders.

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.