Lido Advisors LLC Has $260,000 Stock Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Lido Advisors LLC grew its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 80.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,622 shares of the company’s stock after buying an additional 3,836 shares during the quarter. Lido Advisors LLC’s holdings in Madison Square Garden Entertainment were worth $260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MYDA Advisors LLC acquired a new stake in shares of Madison Square Garden Entertainment in the first quarter valued at $1,300,000. American Century Companies Inc. increased its position in Madison Square Garden Entertainment by 12.9% in the first quarter. American Century Companies Inc. now owns 125,828 shares of the company’s stock worth $7,196,000 after purchasing an additional 14,410 shares during the period. Barclays PLC increased its position in Madison Square Garden Entertainment by 228.4% in the second quarter. Barclays PLC now owns 114,008 shares of the company’s stock worth $3,306,000 after purchasing an additional 79,292 shares during the period. O Keefe Stevens Advisory Inc. acquired a new stake in Madison Square Garden Entertainment in the second quarter worth about $2,465,000. Finally, Bank of New York Mellon Corp increased its position in Madison Square Garden Entertainment by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 302,168 shares of the company’s stock worth $9,380,000 after purchasing an additional 173,589 shares during the period. 70.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Entertainment Co. Sphere sold 8,221,188 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $31.20, for a total value of $256,501,065.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.72% of the stock is currently owned by company insiders.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $30.27 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 14.79. The business’s 50-day simple moving average is $31.45 and its 200-day simple moving average is $33.09. Madison Square Garden Entertainment Corp. has a fifty-two week low of $27.55 and a fifty-two week high of $40.81.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Friday, August 18th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.16. The company had revenue of $147.90 million during the quarter, compared to the consensus estimate of $140.52 million. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. Research analysts anticipate that Madison Square Garden Entertainment Corp. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lowered their price objective on Madison Square Garden Entertainment from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, September 1st. JPMorgan Chase & Co. lowered their price objective on Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Bank of America began coverage on Madison Square Garden Entertainment in a research report on Tuesday, August 22nd. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Guggenheim boosted their target price on Madison Square Garden Entertainment from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.83.

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.