Corient Private Wealth LLC Raises Holdings in Madison Square Garden Entertainment Corp. $MSGE

Corient Private Wealth LLC increased its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 276.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,875 shares of the company’s stock after purchasing an additional 12,393 shares during the period. Corient Private Wealth LLC’s holdings in Madison Square Garden Entertainment were worth $909,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Horizon Corp purchased a new position in Madison Square Garden Entertainment during the fourth quarter worth $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madison Square Garden Entertainment during the fourth quarter valued at $45,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Madison Square Garden Entertainment during the fourth quarter valued at $47,000. CIBC Private Wealth Group LLC boosted its stake in shares of Madison Square Garden Entertainment by 3,248.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock valued at $67,000 after acquiring an additional 1,202 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Madison Square Garden Entertainment during the 2nd quarter worth about $62,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

MSGE has been the subject of several analyst reports. Seaport Research Partners reissued a “neutral” rating on shares of Madison Square Garden Entertainment in a research note on Monday. Morgan Stanley raised their price target on shares of Madison Square Garden Entertainment from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Susquehanna raised their target price on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the stock a “positive” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.50.

Insider Transactions at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $74.48, for a total value of $737,873.36. Following the completion of the sale, the executive vice president directly owned 15,772 shares in the company, valued at approximately $1,174,698.56. The trade was a 38.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.41% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

NYSE MSGE opened at $78.36 on Friday. The business’s 50-day moving average price is $70.84 and its 200 day moving average price is $62.89. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 11.40. Madison Square Garden Entertainment Corp. has a twelve month low of $35.31 and a twelve month high of $82.79. The company has a market capitalization of $3.17 billion, a PE ratio of 76.83 and a beta of 0.54.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $246.26 million for the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, research analysts predict that Madison Square Garden Entertainment Corp. will post 1.34 earnings per share for the current year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.