Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,687 shares of the company’s stock after purchasing an additional 2,370 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madison Square Garden Entertainment were worth $340,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Kettle Hill Capital Management LLC raised its position in Madison Square Garden Entertainment by 228.5% in the third quarter. Kettle Hill Capital Management LLC now owns 192,500 shares of the company’s stock valued at $6,335,000 after purchasing an additional 133,899 shares during the period. Walleye Capital LLC raised its holdings in shares of Madison Square Garden Entertainment by 11.2% in the 3rd quarter. Walleye Capital LLC now owns 536,644 shares of the company’s stock valued at $17,661,000 after buying an additional 53,967 shares during the period. Assenagon Asset Management S.A. acquired a new position in Madison Square Garden Entertainment during the 4th quarter worth about $8,970,000. Jericho Capital Asset Management L.P. purchased a new position in Madison Square Garden Entertainment during the 3rd quarter valued at about $62,652,000. Finally, Simplicity Solutions LLC grew its position in Madison Square Garden Entertainment by 24.0% in the 4th quarter. Simplicity Solutions LLC now owns 76,235 shares of the company’s stock valued at $2,424,000 after acquiring an additional 14,734 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE stock opened at $40.30 on Friday. Madison Square Garden Entertainment Corp. has a fifty-two week low of $27.55 and a fifty-two week high of $41.58. The company has a 50 day moving average price of $38.71 and a 200 day moving average price of $34.43. The stock has a market capitalization of $1.66 billion and a P/E ratio of 26.17.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 EPS for the quarter, topping the consensus estimate of $1.90 by $0.69. The business had revenue of $402.67 million during the quarter, compared to the consensus estimate of $385.92 million. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 earnings per share. On average, research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, CEO James Lawrence Dolan sold 24,284 shares of Madison Square Garden Entertainment stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $37.31, for a total transaction of $906,036.04. Following the completion of the sale, the chief executive officer now directly owns 360,242 shares of the company’s stock, valued at approximately $13,440,629.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 190,080 shares of company stock valued at $7,221,633. Insiders own 18.72% of the company’s stock.

Madison Square Garden Entertainment 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.