Principal Financial Group Inc. Acquires Shares of 18,532 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Principal Financial Group Inc. purchased a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,532 shares of the company’s stock, valued at approximately $788,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC boosted its position in Madison Square Garden Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 594 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new position in Madison Square Garden Entertainment in the third quarter worth $219,000. Captrust Financial Advisors purchased a new position in Madison Square Garden Entertainment during the third quarter valued at $227,000. Wilmington Savings Fund Society FSB purchased a new position in Madison Square Garden Entertainment during the third quarter valued at $242,000. Finally, Cannon Global Investment Management LLC bought a new stake in Madison Square Garden Entertainment during the third quarter worth about $259,000. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $35.89 on Monday. The business’s fifty day moving average is $36.91 and its 200 day moving average is $38.47. Madison Square Garden Entertainment Corp. has a fifty-two week low of $30.13 and a fifty-two week high of $44.14. The company has a market capitalization of $1.72 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 3.13 and a beta of -0.04.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, November 8th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.39. The company had revenue of $138.70 million for the quarter, compared to analysts’ expectations of $139.46 million. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.73) EPS. On average, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

MSGE has been the topic of a number of analyst reports. Guggenheim dropped their price target on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Morgan Stanley lowered their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Macquarie lowered their price objective on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

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.