Madison Square Garden Entertainment (NYSE:MSGE) Price Target Raised to $52.00

Madison Square Garden Entertainment (NYSE:MSGE) had its price target lifted by The Goldman Sachs Group from $42.00 to $52.00 in a research note released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Morgan Stanley lifted their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and an average price target of $45.20.

Madison Square Garden Entertainment Trading Down 2.3%

Shares of Madison Square Garden Entertainment stock opened at $45.56 on Wednesday. The business has a fifty day simple moving average of $41.17 and a 200-day simple moving average of $37.73. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $48.09. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 59.94 and a beta of 0.49. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The business had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. During the same quarter last year, the firm posted $1.41 earnings per share. Madison Square Garden Entertainment’s revenue was down 17.2% compared to the same quarter last year. On average, equities analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ariel Investments LLC raised its stake in Madison Square Garden Entertainment by 1.6% during the 2nd quarter. Ariel Investments LLC now owns 7,896,008 shares of the company’s stock valued at $315,603,000 after purchasing an additional 120,635 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in shares of Madison Square Garden Entertainment by 5.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company’s stock valued at $94,479,000 after buying an additional 152,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Madison Square Garden Entertainment by 14.9% during the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company’s stock valued at $32,164,000 after buying an additional 127,700 shares during the period. Dendur Capital LP lifted its stake in Madison Square Garden Entertainment by 60.1% in the 2nd quarter. Dendur Capital LP now owns 925,500 shares of the company’s stock worth $36,992,000 after acquiring an additional 347,500 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in Madison Square Garden Entertainment by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 923,407 shares of the company’s stock worth $30,232,000 after acquiring an additional 3,930 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.