Healthcare of Ontario Pension Plan Trust Fund Invests $943,000 in Madison Square Garden Entertainment Corp. $MSGE

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 16,011 shares of the company’s stock, valued at approximately $943,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in Madison Square Garden Entertainment by 0.6% in the fourth quarter. Deutsche Bank AG now owns 32,473 shares of the company’s stock valued at $1,750,000 after buying an additional 181 shares in the last quarter. CWM LLC increased its holdings in shares of Madison Square Garden Entertainment by 15.1% during the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after buying an additional 226 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Madison Square Garden Entertainment by 1.9% in the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock valued at $906,000 after acquiring an additional 418 shares during the last quarter. XTX Topco Ltd grew its position in Madison Square Garden Entertainment by 5.2% during the 4th quarter. XTX Topco Ltd now owns 8,681 shares of the company’s stock worth $468,000 after acquiring an additional 427 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Madison Square Garden Entertainment by 6.2% during the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock valued at $350,000 after purchasing an additional 451 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Insider Transactions at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $74.48, for a total value of $737,873.36. Following the transaction, the executive vice president owned 15,772 shares of the company’s stock, valued at approximately $1,174,698.56. This trade represents a 38.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MSGE. Wall Street Zen cut Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $82.00 price target (up from $72.00) on shares of Madison Square Garden Entertainment in a research report on Thursday, July 9th. Seaport Research Partners restated a “neutral” rating on shares of Madison Square Garden Entertainment in a research report on Monday, June 29th. Morgan Stanley raised their price objective on shares of Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings lowered shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.83.

Madison Square Garden Entertainment Trading Down 2.2%

MSGE stock opened at $77.15 on Friday. The company has a quick ratio of 0.72, a current 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 cap of $3.12 billion, a P/E ratio of 75.64 and a beta of 0.54. The business has a fifty day moving average of $74.94 and a 200-day moving average of $66.10.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $246.26 million during the quarter, compared to the consensus estimate of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. Madison Square Garden Entertainment’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, equities research analysts expect that Madison Square Garden Entertainment Corp. will post 1.35 EPS for the current year.

Madison Square Garden Entertainment 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.