Madison Square Garden Entertainment Corp. $MSGE Shares Acquired by Boyar Asset Management Inc.

Boyar Asset Management Inc. boosted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 45,658 shares of the company’s stock after purchasing an additional 1,264 shares during the quarter. Madison Square Garden Entertainment makes up approximately 1.2% of Boyar Asset Management Inc.’s holdings, making the stock its 18th largest holding. Boyar Asset Management Inc.’s holdings in Madison Square Garden Entertainment were worth $1,825,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. raised its stake in Madison Square Garden Entertainment by 3.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 12,836 shares of the company’s stock valued at $420,000 after acquiring an additional 398 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Madison Square Garden Entertainment by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 21,313 shares of the company’s stock worth $698,000 after buying an additional 516 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Madison Square Garden Entertainment by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 20,713 shares of the company’s stock worth $678,000 after buying an additional 702 shares in the last quarter. KBC Group NV acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth $31,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Madison Square Garden Entertainment by 5.3% during the first 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. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of NYSE:MSGE opened at $45.56 on Friday. The business has a 50 day moving average price of $41.17 and a 200 day moving average price of $37.73. Madison Square Garden Entertainment Corp. has a twelve month low of $28.29 and a twelve month high of $48.09. The company 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 posted 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). The firm had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The company’s revenue was down 17.2% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. Research analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

MSGE has been the topic of a number of recent analyst reports. Wall Street Zen lowered Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Morgan Stanley boosted their target price on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group boosted their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research note on Saturday, September 27th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Madison Square Garden Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $45.20.

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.