Wall Street Zen Upgrades Madison Square Garden Entertainment (NYSE:MSGE) to Buy

Madison Square Garden Entertainment (NYSE:MSGE) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday, December 1st. The Goldman Sachs Group upped their price target on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Morgan Stanley increased their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $51.82 on Friday. The business’s 50-day moving average price is $46.22 and its 200 day moving average price is $41.92. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment has a twelve month low of $28.29 and a twelve month high of $52.25. The company has a market capitalization of $2.09 billion, a PE ratio of 74.03 and a beta of 0.43.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. Madison Square Garden Entertainment had a net margin of 3.65% and a negative return on equity of 310.15%. The firm had revenue of $158.26 million during the quarter, compared to the consensus estimate of $156.62 million. Madison Square Garden Entertainment’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) earnings per share. On average, research analysts predict that Madison Square Garden Entertainment will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Madison Square Garden Entertainment by 0.4% during the second quarter. Rhumbline Advisers now owns 63,178 shares of the company’s stock worth $2,525,000 after purchasing an additional 272 shares during the last quarter. Garden State Investment Advisory Services LLC raised its stake in Madison Square Garden Entertainment by 2.0% during the second quarter. Garden State Investment Advisory Services LLC now owns 15,902 shares of the company’s stock valued at $636,000 after buying an additional 306 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Madison Square Garden Entertainment by 1.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after buying an additional 418 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Madison Square Garden Entertainment by 25.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock worth $89,000 after acquiring an additional 448 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Madison Square Garden Entertainment by 6.2% in the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock valued at $350,000 after acquiring an additional 451 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

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.