Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 295.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,045 shares of the company’s stock after acquiring an additional 49,351 shares during the period. Barclays PLC owned about 0.14% of Madison Square Garden Entertainment worth $2,809,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quent Capital LLC raised its position in shares of Madison Square Garden Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after acquiring an additional 594 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in Madison Square Garden Entertainment in the third quarter valued at approximately $219,000. Captrust Financial Advisors acquired a new stake in Madison Square Garden Entertainment during the third quarter worth approximately $227,000. Cannon Global Investment Management LLC acquired a new stake in Madison Square Garden Entertainment during the third quarter worth approximately $259,000. 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 worth $267,000 after buying an additional 426 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. The trade was a 32.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MSGE has been the topic of several research analyst reports. Guggenheim cut 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. Macquarie reduced their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Morgan Stanley dropped 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 note on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $33.20 on Wednesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 3.13 and a beta of -0.04. Madison Square Garden Entertainment Corp. has a fifty-two week low of $30.10 and a fifty-two week high of $44.14. The firm has a 50-day simple moving average of $38.36 and a 200-day simple moving average of $38.42.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its 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 negative return on equity of 261.70% and a net margin of 18.38%. The company had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. During the same period last year, the business posted ($0.73) EPS. The company’s revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current 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.