Scholtz & Company LLC Has $5.02 Million Stock Holdings in Madison Square Garden Entertainment Corp. $MSGE

Scholtz & Company LLC lifted its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 67.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,037 shares of the company’s stock after buying an additional 25,066 shares during the quarter. Madison Square Garden Entertainment comprises approximately 2.5% of Scholtz & Company LLC’s holdings, making the stock its 15th largest position. Scholtz & Company LLC’s holdings in Madison Square Garden Entertainment were worth $5,018,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Madison Square Garden Entertainment by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock valued at $775,000 after buying an additional 1,193 shares during the last quarter. Millennium Management LLC acquired a new position in Madison Square Garden Entertainment during the 1st quarter worth $4,994,000. Dynamic Technology Lab Private Ltd bought a new stake in Madison Square Garden Entertainment during the first quarter valued at about $210,000. Jane Street Group LLC bought a new stake in Madison Square Garden Entertainment during the first quarter valued at about $1,468,000. Finally, JPMorgan Chase & Co. grew its position in shares of Madison Square Garden Entertainment by 53.5% in the second quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after purchasing an additional 35,678 shares during the last quarter. 96.86% of the stock is owned by institutional investors.

Madison Square Garden Entertainment Stock Down 0.6%

Shares of MSGE opened at $76.28 on Thursday. The company has a 50-day simple moving average of $77.96 and a 200-day simple moving average of $69.86. The firm has a market capitalization of $3.08 billion, a P/E ratio of 55.28 and a beta of 0.56. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. Madison Square Garden Entertainment Corp. has a 52 week low of $41.02 and a 52 week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.23. The business had revenue of $196.32 million for the quarter, compared to the consensus estimate of $166.62 million. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%.The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the business earned ($0.57) earnings per share. On average, equities research analysts expect that Madison Square Garden Entertainment Corp. will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MSGE. JPMorgan Chase & Co. boosted their price objective on Madison Square Garden Entertainment from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen raised Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Susquehanna lifted their price target on Madison Square Garden Entertainment from $80.00 to $103.00 and gave the stock a “positive” rating in a research report on Thursday, August 13th. Morgan Stanley upped their price target on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Bank of America increased their price objective on Madison Square Garden Entertainment from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Madison Square Garden Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

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.