Entropy Technologies LP Has $910,000 Position in Madison Square Garden Entertainment Corp. $MSGE

Entropy Technologies LP increased its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 91.5% during the 1st quarter, Holdings Channel reports. The fund owned 15,440 shares of the company’s stock after acquiring an additional 7,379 shares during the period. Entropy Technologies LP’s holdings in Madison Square Garden Entertainment were worth $910,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Horizon Corp bought a new stake in Madison Square Garden Entertainment in the fourth quarter valued at $37,000. Aster Capital Management DIFC Ltd bought a new position in shares of Madison Square Garden Entertainment during the 4th quarter worth about $45,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Madison Square Garden Entertainment during the 4th quarter worth about $47,000. State of Wyoming acquired a new stake in shares of Madison Square Garden Entertainment in the 2nd quarter valued at about $62,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Madison Square Garden Entertainment by 3,248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock valued at $67,000 after buying an additional 1,202 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. Susquehanna increased their price target on Madison Square Garden Entertainment from $77.00 to $80.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $82.00 price objective (up from $72.00) on shares of Madison Square Garden Entertainment in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Guggenheim upped their target price on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Madison Square Garden Entertainment presently has an average rating of “Hold” and a consensus 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 Madison Square Garden Entertainment stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $74.48, for a total transaction of $737,873.36. Following the completion of the transaction, the executive vice president owned 15,772 shares in the company, valued at approximately $1,174,698.56. The trade was a 38.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.41% of the company’s stock.

Madison Square Garden Entertainment Stock Down 0.1%

Madison Square Garden Entertainment stock opened at $77.27 on Wednesday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 75.75 and a beta of 0.54. The firm’s fifty day moving average price is $74.47 and its two-hundred day moving average price is $65.71. 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 current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 11.40.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $246.26 million for the quarter, compared to the consensus estimate 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 company’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.35 earnings per share for the current fiscal year.

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.