Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Sold by Walleye Capital LLC

Walleye Capital LLC decreased its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 26.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 352,559 shares of the company’s stock after selling 126,856 shares during the quarter. Walleye Capital LLC’s holdings in Madison Square Garden Entertainment were worth $14,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Madison Square Garden Entertainment during the third quarter worth approximately $788,000. Maverick Capital Ltd. purchased a new position in shares of Madison Square Garden Entertainment in the 2nd quarter valued at approximately $1,494,000. Bank of New York Mellon Corp grew its stake in shares of Madison Square Garden Entertainment by 11.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 167,073 shares of the company’s stock valued at $5,719,000 after purchasing an additional 17,793 shares during the last quarter. Radnor Capital Management LLC purchased a new position in shares of Madison Square Garden Entertainment in the 3rd quarter valued at approximately $1,005,000. Finally, Renaissance Technologies LLC grew its stake in shares of Madison Square Garden Entertainment by 182.5% in the 2nd quarter. Renaissance Technologies LLC now owns 82,200 shares of the company’s stock valued at $2,814,000 after purchasing an additional 53,100 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Madison Square Garden Entertainment stock opened at $36.99 on Friday. Madison Square Garden Entertainment Corp. has a 1-year low of $29.71 and a 1-year high of $44.14. The company has a market cap of $1.78 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 3.34 and a beta of 0.17. The stock’s 50 day moving average price is $40.43 and its 200 day moving average price is $38.43.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.39. The firm had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.73) earnings per share. On average, equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MSGE has been the topic of several analyst reports. Macquarie lowered their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Guggenheim lowered their target price on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Bank of America lifted their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Morgan Stanley decreased their price target on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Insiders Place Their Bets

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $42.43, for a total transaction of $254,580.00. Following the sale, the executive vice president now directly owns 12,192 shares in the company, valued at approximately $517,306.56. The trade was a 32.98 % 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 this link. 17.85% of the stock is owned by company insiders.

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.