Fernwood Investment Management LLC Trims Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Fernwood Investment Management LLC reduced its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,300 shares of the company’s stock after selling 400 shares during the period. Fernwood Investment Management LLC’s holdings in Madison Square Garden Entertainment were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MSGE. Russell Investments Group Ltd. increased its stake in Madison Square Garden Entertainment by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 49,620 shares of the company’s stock valued at $1,577,000 after purchasing an additional 857 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Madison Square Garden Entertainment by 28.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,687 shares of the company’s stock worth $340,000 after acquiring an additional 2,370 shares during the last quarter. Simplicity Solutions LLC lifted its position in Madison Square Garden Entertainment by 24.0% in the 4th quarter. Simplicity Solutions LLC now owns 76,235 shares of the company’s stock valued at $2,424,000 after acquiring an additional 14,734 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Madison Square Garden Entertainment by 24.0% during the 4th quarter. Bleakley Financial Group LLC now owns 76,235 shares of the company’s stock valued at $2,424,000 after purchasing an additional 14,734 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Madison Square Garden Entertainment by 98.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,597 shares of the company’s stock worth $82,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Lawrence Dolan sold 24,284 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $37.31, for a total transaction of $906,036.04. Following the completion of the transaction, the chief executive officer now owns 360,242 shares in the company, valued at $13,440,629.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 190,080 shares of company stock worth $7,221,633. 18.72% of the stock is owned by insiders.

Madison Square Garden Entertainment Price Performance

NYSE MSGE traded down $0.34 during trading hours on Tuesday, hitting $39.76. The company’s stock had a trading volume of 14,017 shares, compared to its average volume of 465,556. The company has a market cap of $1.63 billion and a P/E ratio of 26.04. The company’s 50 day simple moving average is $38.53 and its two-hundred day simple moving average is $34.25. Madison Square Garden Entertainment Corp. has a 12 month low of $27.55 and a 12 month high of $40.81.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 EPS for the quarter, beating the consensus estimate of $1.90 by $0.69. The firm had revenue of $402.67 million during the quarter, compared to analyst estimates of $385.92 million. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.95 EPS. As a group, research analysts predict that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share 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.