Bleakley Financial Group LLC Cuts Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Bleakley Financial Group LLC lowered its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 90.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,142 shares of the company’s stock after selling 68,554 shares during the period. Bleakley Financial Group LLC’s holdings in Madison Square Garden Entertainment were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oliver Luxxe Assets LLC purchased a new position in Madison Square Garden Entertainment in the third quarter worth $1,853,000. Handelsbanken Fonder AB purchased a new position in Madison Square Garden Entertainment in the third quarter worth $323,000. Quent Capital LLC raised its stake in shares of 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 period. SG Americas Securities LLC raised its stake in shares of Madison Square Garden Entertainment by 77.4% in the third quarter. SG Americas Securities LLC now owns 18,325 shares of the company’s stock valued at $779,000 after buying an additional 7,996 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Madison Square Garden Entertainment in the second quarter valued at $303,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’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 in the company, valued at $517,306.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.72% of the stock is owned by company insiders.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $41.77 on Thursday. Madison Square Garden Entertainment Corp. has a 52-week low of $27.55 and a 52-week high of $44.04. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 3.70 and a beta of 0.13. The business’s fifty day moving average is $41.45 and its 200 day moving average is $38.41.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on MSGE shares. Bank of America boosted their target price 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. The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $45.00 in a research note on Wednesday, July 24th. Morgan Stanley boosted their target price on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Macquarie boosted 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.20.

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.