Madison Square Garden Entertainment Corp. (NYSE:MSGE) Stock Has Average Target Price of $91.62

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $91.62.

MSGE has been the subject of several research reports. Guggenheim increased their price objective on shares of Madison Square Garden Entertainment from $82.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. upped their price target on Madison Square Garden Entertainment from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. BTIG Research increased their target price on shares of Madison Square Garden Entertainment from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Zacks Research downgraded Madison Square Garden Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Finally, Seaport Research Partners restated a “neutral” rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of MSGE. Nisa Investment Advisors LLC increased its holdings in Madison Square Garden Entertainment by 62.7% during the third quarter. Nisa Investment Advisors LLC now owns 5,484 shares of the company’s stock worth $439,000 after buying an additional 2,113 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Madison Square Garden Entertainment in the third quarter worth about $1,757,000. Counterpoint Mutual Funds LLC bought a new position in shares of Madison Square Garden Entertainment in the third quarter worth $705,000. TD Waterhouse Canada Inc. increased its stake in Madison Square Garden Entertainment by 957.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,174 shares of the company’s stock worth $94,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Madison Square Garden Entertainment by 42.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,229,680 shares of the company’s stock valued at $98,510,000 after acquiring an additional 366,218 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Down 0.1%

MSGE stock opened at $80.57 on Thursday. Madison Square Garden Entertainment has a 52 week low of $43.33 and a 52 week high of $90.41. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50-day simple moving average is $79.72 and its 200 day simple moving average is $74.29. The company has a market capitalization of $3.26 billion, a PE ratio of 58.38 and a beta of 0.55.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.23. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%. The firm had revenue of $196.32 million for the quarter, compared to analyst estimates of $166.62 million. During the same quarter last year, the company earned ($0.57) EPS. The company’s revenue was up 27.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Madison Square Garden Entertainment will post 2.50 earnings per share for the current year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a live entertainment company that owns, operates and manages prominent entertainment venues and produces live events. Its portfolio includes Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, as well as the Hulu Theater at Madison Square Garden.

The company presents and promotes concerts, family entertainment, comedy shows, sporting events and other special events. It also produces the annual Christmas Spectacular Starring the Radio City Rockettes and supports a range of entertainment experiences through its venue operations, booking activities and event-related services.

Madison Square Garden Entertainment primarily serves audiences in the United States, with a concentration in New York City and Chicago.