5,140 Shares in Madison Square Garden Entertainment Corp. (NYSE:MSGE) Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC bought a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,140 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Madison Square Garden Entertainment by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,210 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,516 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Madison Square Garden Entertainment by 4,104.7% during the first quarter. Public Employees Retirement System of Ohio now owns 10,680 shares of the company’s stock valued at $419,000 after acquiring an additional 10,426 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Madison Square Garden Entertainment by 15.1% in the 1st quarter. Janus Henderson Group PLC now owns 69,980 shares of the company’s stock valued at $2,744,000 after acquiring an additional 9,192 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after acquiring an additional 2,639 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of Madison Square Garden Entertainment by 0.6% in the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock worth $2,591,000 after acquiring an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MSGE shares. Morgan Stanley cut their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Guggenheim cut their price objective on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Bank of America increased their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and an average price target of $46.00.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was 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 approximately $517,306.56. This represents a 32.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.85% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of NYSE MSGE opened at $36.57 on Tuesday. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 3.37 and a beta of -0.03. The stock’s 50-day moving average is $40.43 and its two-hundred day moving average is $38.45. Madison Square Garden Entertainment Corp. has a 1-year low of $30.00 and a 1-year high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The firm had revenue of $138.70 million for the quarter, compared to analyst estimates of $139.46 million. During the same period in the prior year, the firm earned ($0.73) earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

About Madison Square Garden Entertainment

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.