NBC Securities Inc. Reduces Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

NBC Securities Inc. cut its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,515 shares of the company’s stock after selling 1,155 shares during the quarter. NBC Securities Inc.’s holdings in Madison Square Garden Entertainment were worth $177,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in Madison Square Garden Entertainment during the third quarter worth about $43,000. PNC Financial Services Group Inc. lifted its stake in Madison Square Garden Entertainment by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,521 shares of the company’s stock valued at $271,000 after buying an additional 450 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter valued at $272,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Madison Square Garden Entertainment by 28.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,687 shares of the company’s stock worth $340,000 after buying an additional 2,370 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Madison Square Garden Entertainment by 24.0% in the fourth quarter. Arizona State Retirement System now owns 10,916 shares of the company’s stock worth $347,000 after acquiring an additional 2,116 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Up 0.3 %

MSGE opened at $33.63 on Monday. The firm has a market cap of $1.38 billion, a P/E ratio of 28.50, a PEG ratio of 3.92 and a beta of 0.21. The business’s fifty day simple moving average is $36.64 and its 200 day simple moving average is $35.75. Madison Square Garden Entertainment Corp. has a 52 week low of $27.55 and a 52 week high of $41.58.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $228.30 million for the quarter, compared to analysts’ expectations of $227.63 million. Madison Square Garden Entertainment had a net margin of 5.74% and a negative return on equity of 53.05%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. As a group, equities analysts expect that Madison Square Garden Entertainment Corp. will post 1.23 EPS 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.