Dimensional Fund Advisors LP Purchases 586 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Dimensional Fund Advisors LP raised its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,038,528 shares of the company’s stock after acquiring an additional 586 shares during the period. Dimensional Fund Advisors LP owned about 2.52% of Madison Square Garden Entertainment worth $35,549,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MSGE. PNC Financial Services Group Inc. boosted its position in Madison Square Garden Entertainment by 5.6% during the fourth 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 during the period. Simplicity Wealth LLC lifted its position in Madison Square Garden Entertainment by 0.6% in the second quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock valued at $2,591,000 after purchasing an additional 482 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Madison Square Garden Entertainment by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,143 shares of the company’s stock valued at $280,000 after purchasing an additional 561 shares during the period. Quent Capital LLC grew its holdings in shares of Madison Square Garden Entertainment by 1,838.2% in the first quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 625 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Madison Square Garden Entertainment by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock valued at $292,000 after buying an additional 805 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MSGE shares. Bank of America boosted their price objective on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Macquarie boosted their price target on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $45.00 in a report on Wednesday, July 24th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.20.

Madison Square Garden Entertainment Price Performance

Shares of MSGE opened at $42.03 on Wednesday. The company has a 50-day simple moving average of $40.05 and a two-hundred day simple moving average of $38.03. The firm has a market capitalization of $1.73 billion, a PE 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 one year low of $27.55 and a one year high of $42.99.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, August 16th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $1.97. The company had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. Analysts expect that Madison Square Garden Entertainment Corp. will post 1.64 EPS for the current fiscal year.

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.