Victory Capital Management Inc. Has $744,000 Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Victory Capital Management Inc. increased its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 16.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,503 shares of the company’s stock after purchasing an additional 2,461 shares during the quarter. Victory Capital Management Inc.’s holdings in Madison Square Garden Entertainment were worth $744,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Versor Investments LP acquired a new position in shares of Madison Square Garden Entertainment during the 3rd quarter worth about $396,000. Principal Financial Group Inc. bought a new stake in Madison Square Garden Entertainment during the third quarter worth about $788,000. Radnor Capital Management LLC acquired a new position in Madison Square Garden Entertainment during the third quarter valued at approximately $1,005,000. Cannon Global Investment Management LLC bought a new position in Madison Square Garden Entertainment in the third quarter valued at approximately $259,000. Finally, New York State Common Retirement Fund grew its stake in Madison Square Garden Entertainment by 5.5% in the third quarter. New York State Common Retirement Fund now owns 469,261 shares of the company’s stock valued at $19,958,000 after purchasing an additional 24,644 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of MSGE opened at $36.64 on Friday. The company’s 50-day moving average is $40.54 and its 200-day moving average is $38.42. The firm has a market capitalization of $1.76 billion, a PE ratio of 10.01, a PEG ratio of 3.36 and a beta of 0.17. Madison Square Garden Entertainment Corp. has a fifty-two week low of $29.71 and a fifty-two week high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $139.46 million. During the same period in the prior year, the firm earned ($0.73) EPS. The business’s revenue was down 2.5% on a year-over-year basis. Analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MSGE shares. Bank of America increased their price objective on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 19th. Macquarie decreased their price objective on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Guggenheim cut their target price on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Insider Transactions at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares in the company, valued at approximately $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.85% of the stock is owned by corporate insiders.

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.