Versor Investments LP Buys Shares of 9,300 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Versor Investments LP bought a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 9,300 shares of the company’s stock, valued at approximately $396,000.

A number of other large investors have also modified their holdings of MSGE. Quent Capital LLC grew its stake in shares of Madison Square Garden Entertainment by 913.8% during the third 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. DekaBank Deutsche Girozentrale grew its stake in shares of Madison Square Garden Entertainment by 101.6% during the first 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. OFI Invest Asset Management purchased a new stake in shares of Madison Square Garden Entertainment during the second quarter worth about $251,000. Cannon Global Investment Management LLC purchased a new stake in shares of Madison Square Garden Entertainment during the third quarter worth about $259,000. Finally, Marshall Wace LLP grew its stake in shares of Madison Square Garden Entertainment by 5.8% during the second quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after acquiring an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Down 2.6 %

Shares of NYSE:MSGE opened at $35.81 on Friday. Madison Square Garden Entertainment Corp. has a 12-month low of $29.27 and a 12-month high of $44.14. The company has a market capitalization of $1.72 billion, a PE ratio of 10.04, a PEG ratio of 3.82 and a beta of 0.17. The business has a 50 day moving average of $41.45 and a two-hundred day moving average of $38.64.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results 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. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The company had revenue of $138.70 million during the quarter, compared to the consensus estimate of $139.46 million. During the same period in the previous year, the company posted ($0.73) earnings per share. Madison Square Garden Entertainment’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MSGE. Morgan Stanley dropped their price target on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday. Guggenheim dropped their price target on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday. Bank of America lifted their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group raised Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $41.00 to $45.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at $517,306.56. This represents a 32.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 17.85% of the stock is currently owned by corporate insiders.

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.