Geode Capital Management LLC Purchases 24,772 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Geode Capital Management LLC lifted its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 938,463 shares of the company’s stock after buying an additional 24,772 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Madison Square Garden Entertainment worth $39,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MSGE. Quent Capital LLC grew its holdings in 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 stake in shares of Madison Square Garden Entertainment in the 3rd quarter worth approximately $219,000. Captrust Financial Advisors bought a new position in shares of Madison Square Garden Entertainment during the third quarter valued at approximately $227,000. Cannon Global Investment Management LLC purchased a new position in Madison Square Garden Entertainment during the third quarter valued at approximately $259,000. Finally, Intech Investment Management LLC purchased a new stake in Madison Square Garden Entertainment during the third quarter worth $291,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the stock in a transaction dated Monday, September 30th. The stock was 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 of the company’s stock, valued at approximately $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.85% of the stock is currently owned by company insiders.

Madison Square Garden Entertainment Stock Up 0.4 %

MSGE opened at $33.20 on Wednesday. The company has a market cap of $1.60 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 3.13 and a beta of -0.04. The firm’s 50-day moving average price is $38.36 and its 200-day moving average price is $38.42. Madison Square Garden Entertainment Corp. has a 52-week low of $30.10 and a 52-week high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.39. The business had revenue of $138.70 million during 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 business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.73) earnings per share. On average, research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MSGE has been the subject of several recent research reports. Morgan Stanley reduced their price target on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Macquarie decreased their price target 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. Finally, Guggenheim cut their price objective on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.00.

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.