Madison Square Garden Entertainment Corp. (NYSE:MSGE) Short Interest Up 21.3% in April


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Madison Square Garden Entertainment Corp. (NYSE:MSGE) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 739,700 shares, a growth of 21.3% from the March 31st total of 609,700 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average trading volume of 290,400 shares, the short-interest ratio is presently 2.5 days.

Madison Square Garden Entertainment stock traded down $3.01 during midday trading on Tuesday, hitting $85.92. The stock had a trading volume of 5,689 shares, compared to its average volume of 280,619. The firm’s fifty day moving average is $91.32 and its two-hundred day moving average is $91.95. The company has a market capitalization of $2.07 billion and a PE ratio of -23.91. Madison Square Garden Entertainment has a 52-week low of $63.55 and a 52-week high of $121.42. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.01.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Friday, February 12th. The company reported ($5.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.87) by ($1.26). The company had revenue of $23.14 million for the quarter, compared to the consensus estimate of $18.35 million. As a group, equities research analysts predict that Madison Square Garden Entertainment will post -13.54 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc boosted its position in shares of Madison Square Garden Entertainment by 23,700.0% during the 4th quarter. NEXT Financial Group Inc now owns 238 shares of the company’s stock valued at $25,000 after acquiring an additional 237 shares during the last quarter. Private Capital Group LLC boosted its position in shares of Madison Square Garden Entertainment by 121.2% during the 1st quarter. Private Capital Group LLC now owns 365 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Madison Square Garden Entertainment by 341.0% during the 4th quarter. Bessemer Group Inc. now owns 366 shares of the company’s stock valued at $38,000 after acquiring an additional 283 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Madison Square Garden Entertainment by 2,941.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 517 shares of the company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Madison Square Garden Entertainment during the 1st quarter valued at approximately $71,000. Hedge funds and other institutional investors own 68.78% of the company’s stock.

MSGE has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of Madison Square Garden Entertainment from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 19th. Zacks Investment Research upgraded shares of Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, April 15th. Finally, JPMorgan Chase & Co. cut shares of Madison Square Garden Entertainment from an “overweight” rating to a “neutral” rating and upped their target price for the company from $100.00 to $105.00 in a research note on Tuesday, February 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $97.63.

Madison Square Garden Entertainment Company Profile

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, professional bull riding, mixed martial arts, and esports in its venues, including New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.

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