Cullen Frost Bankers Inc. Increases Stock Position in Madison Square Garden Entertainment Corp. $MSGE

Cullen Frost Bankers Inc. boosted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 163.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,086 shares of the company’s stock after buying an additional 673 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Madison Square Garden Entertainment were worth $43,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV purchased a new position in Madison Square Garden Entertainment during the first quarter worth about $31,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth about $40,000. CWM LLC lifted its position in shares of Madison Square Garden Entertainment by 623.8% during the second quarter. CWM LLC now owns 1,035 shares of the company’s stock worth $41,000 after purchasing an additional 892 shares in the last quarter. US Bancorp DE lifted its position in shares of Madison Square Garden Entertainment by 2,273.6% during the first quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $127,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth about $210,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Up 0.1%

Shares of NYSE:MSGE opened at $45.70 on Monday. The firm’s 50 day moving average price is $43.01 and its 200 day moving average price is $39.05. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 60.13 and a beta of 0.49. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $48.09. 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 earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share 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 firm’s revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. As a group, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MSGE has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Morgan Stanley increased 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. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $45.20.

About Madison Square Garden Entertainment

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.