Madison Square Garden Entertainment (NYSE:MSGE) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) in a research report released on Friday morning, The Fly reports. The brokerage issued an equal weight rating on the stock.

MSGE has been the subject of several other research reports. Seaport Res Ptn reiterated a buy rating on shares of Madison Square Garden Entertainment in a research note on Sunday, April 23rd. Guggenheim started coverage on shares of Madison Square Garden Entertainment in a research report on Wednesday, May 17th. They issued a buy rating and a $37.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of Madison Square Garden Entertainment in a research report on Friday. They set a neutral rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $56.20.

Madison Square Garden Entertainment Stock Down 0.9 %

Shares of Madison Square Garden Entertainment stock opened at $35.71 on Friday. The company has a fifty day moving average price of $44.97 and a 200 day moving average price of $48.06. Madison Square Garden Entertainment has a twelve month low of $28.09 and a twelve month high of $39.19.

Insiders Place Their Bets

In other news, Director Isiah Thomas III sold 931 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $58.48, for a total value of $54,444.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 24.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of large investors have recently bought and sold shares of MSGE. JPMorgan Chase & Co. grew its holdings in shares of Madison Square Garden Entertainment by 23.6% during the first quarter. JPMorgan Chase & Co. now owns 34,123 shares of the company’s stock valued at $2,016,000 after purchasing an additional 6,505 shares during the last quarter. Ancora Advisors LLC grew its stake in Madison Square Garden Entertainment by 190.8% during the 1st quarter. Ancora Advisors LLC now owns 68,295 shares of the company’s stock worth $4,034,000 after buying an additional 44,810 shares during the last quarter. Third Avenue Management LLC increased its position in Madison Square Garden Entertainment by 27.8% in the first quarter. Third Avenue Management LLC now owns 81,238 shares of the company’s stock worth $4,799,000 after buying an additional 17,680 shares during the period. State Street Corp increased its position in Madison Square Garden Entertainment by 5.3% in the first quarter. State Street Corp now owns 561,887 shares of the company’s stock worth $33,191,000 after buying an additional 28,273 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Madison Square Garden Entertainment by 61.4% during the first quarter. First Trust Advisors LP now owns 48,755 shares of the company’s stock valued at $2,880,000 after acquiring an additional 18,552 shares during the period. Institutional investors own 73.28% of the company’s stock.

Madison Square Garden Entertainment Company Profile

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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.