Radnor Capital Management LLC Invests $1.01 Million in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Radnor Capital Management LLC acquired a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 23,620 shares of the company’s stock, valued at approximately $1,005,000.

A number of other institutional investors have also recently made changes to their positions in the business. Quent Capital LLC raised its stake in Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 594 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Madison Square Garden Entertainment by 101.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after acquiring an additional 2,639 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Madison Square Garden Entertainment in the 2nd quarter valued at approximately $251,000. Cannon Global Investment Management LLC acquired a new stake in Madison Square Garden Entertainment in the 3rd quarter worth approximately $259,000. Finally, Marshall Wace LLP grew its position in Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

MSGE has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on shares of Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Macquarie raised their target price on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Bank of America boosted their price target on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group raised Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.20.

Insiders Place Their Bets

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at $517,306.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.85% of the company’s stock.

Madison Square Garden Entertainment Price Performance

NYSE MSGE opened at $43.32 on Thursday. Madison Square Garden Entertainment Corp. has a 1 year low of $27.55 and a 1 year high of $44.05. The company has a market capitalization of $1.80 billion, a PE ratio of 14.16, a P/E/G ratio of 3.51 and a beta of 0.17. The company has a fifty day moving average of $41.67 and a 200 day moving average of $38.62.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Friday, August 16th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $1.97. The business had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) EPS. Research analysts expect that Madison Square Garden Entertainment Corp. will post 1.66 earnings per share for the current year.

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.