Madison Square Garden Entertainment Corp. $MSGE Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Increases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 444.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,600 shares of the company’s stock after purchasing an additional 11,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Madison Square Garden Entertainment were worth $1,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MSGE. Assenagon Asset Management S.A. boosted its position in shares of Madison Square Garden Entertainment by 42.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,229,680 shares of the company’s stock valued at $98,510,000 after purchasing an additional 366,218 shares during the period. Gabelli Funds LLC raised its holdings in Madison Square Garden Entertainment by 2.4% during the 1st quarter. Gabelli Funds LLC now owns 500,420 shares of the company’s stock worth $29,480,000 after buying an additional 11,746 shares during the period. Congress Asset Management Co. purchased a new stake in Madison Square Garden Entertainment during the third quarter valued at about $24,280,000. Bank of America Corp DE boosted its holdings in shares of Madison Square Garden Entertainment by 27.7% in the first quarter. Bank of America Corp DE now owns 223,411 shares of the company’s stock worth $13,161,000 after buying an additional 48,453 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Madison Square Garden Entertainment in the first quarter worth about $11,181,000. 96.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MSGE shares. Guggenheim boosted their price target on shares of Madison Square Garden Entertainment from $82.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. BTIG Research boosted their target price on shares of Madison Square Garden Entertainment from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Wall Street Zen lowered Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, October 29th. Finally, Bank of America raised their target price on Madison Square Garden Entertainment from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Madison Square Garden Entertainment has an average rating of “Hold” and a consensus price target of $90.50.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock opened at $75.58 on Friday. The stock’s fifty day moving average is $79.13 and its 200-day moving average is $70.80. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $3.07 billion, a PE ratio of 37.23 and a beta of 0.56. Madison Square Garden Entertainment Corp. has a 52 week low of $43.33 and a 52 week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Wednesday, November 4th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.24. The company had revenue of $217.13 million during the quarter, compared to analyst estimates of $208.11 million. Madison Square Garden Entertainment had a return on equity of 248.45% and a net margin of 8.64%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same period last year, the company posted ($0.46) earnings per share. Equities research analysts expect that Madison Square Garden Entertainment Corp. will post 2.51 EPS for the current fiscal year.

Madison Square Garden Entertainment News Summary

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: Fiscal Q1 revenue rose 37.2% year over year to $217.1 million, exceeding estimates of about $208.1 million. MSGE earned $0.19 per share, versus expectations for a loss, and compared with a loss of $0.46 a year earlier. A record number of concerts at Madison Square Garden and demand linked to Harry Styles’ performances contributed to the revenue growth. Fiscal 2027 first-quarter results
• Positive Sentiment: Susquehanna raised its price target from $92 to $93 and retained a positive rating. JPMorgan also raised its target, from $83 to $84, although it maintained a neutral rating. Susquehanna recommendations JPMorgan recommendations
• Positive Sentiment: Management repurchased $25 million of Class A shares during the quarter. MSGE also plans 231 performances of its Christmas Spectacular in fiscal 2027 and anticipates more than 1.2 million guests, signaling a substantial upcoming event slate. Long-term investor takeaways Christmas Spectacular plans
• Neutral Sentiment: Despite the upbeat earnings and analyst updates, the supplied reports do not explain why MSGE shares moved lower in trading.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and manages prominent entertainment venues and produces live events. Its portfolio includes Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, as well as the Hulu Theater at Madison Square Garden.

The company presents and promotes concerts, family entertainment, comedy shows, sporting events and other special events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and supports a range of entertainment experiences through its venue operations, booking activities and event-related services.

Madison Square Garden Entertainment primarily serves audiences in the United States, with a concentration in New York City and Chicago.