Philip Gerard D’ambrosio Sells 6,000 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock

Madison Square Garden Entertainment Corp. (NYSE:MSGE) EVP Philip Gerard D’ambrosio sold 6,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the sale, the executive vice president now directly owns 12,192 shares in the company, valued at $517,306.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Madison Square Garden Entertainment Stock Up 0.5 %

NYSE:MSGE traded up $0.20 on Wednesday, hitting $42.23. The stock had a trading volume of 137,890 shares, compared to its average volume of 411,500. The business’s 50-day simple moving average is $40.05 and its two-hundred day simple moving average is $38.03. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 3.64 and a beta of 0.13. Madison Square Garden Entertainment Corp. has a 52-week low of $27.55 and a 52-week high of $42.99.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Friday, August 16th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. The company had revenue of $186.10 million for the quarter, compared to the consensus estimate of $173.26 million. During the same quarter last year, the firm posted ($0.47) earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Madison Square Garden Entertainment

Hedge funds have recently modified their holdings of the business. Quent Capital LLC raised its holdings in Madison Square Garden Entertainment by 1,838.2% in the 1st quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 625 shares during the period. Principal Financial Group Inc. purchased a new stake in Madison Square Garden Entertainment in the first quarter worth about $205,000. DekaBank Deutsche Girozentrale increased its position in Madison Square Garden Entertainment by 101.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after buying an additional 2,639 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Madison Square Garden Entertainment in the second quarter worth about $251,000. Finally, Marshall Wace LLP lifted its position in shares of Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock valued at $267,000 after buying an additional 426 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Company 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.