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

Walleye Capital LLC cut its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 26.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352,559 shares of the company’s stock after selling 126,856 shares during the quarter. Walleye Capital LLC owned about 0.73% of Madison Square Garden Entertainment worth $14,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Marshall Wace LLP grew its holdings in shares of Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares during the period. Simplicity Wealth LLC boosted its holdings in Madison Square Garden Entertainment by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 75,696 shares of the company’s stock valued at $2,591,000 after acquiring an additional 482 shares during the period. Quent Capital LLC boosted its holdings in Madison Square Garden Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 594 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Madison Square Garden Entertainment by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock valued at $292,000 after acquiring an additional 805 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in Madison Square Garden Entertainment by 7.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 20,706 shares of the company’s stock valued at $709,000 after acquiring an additional 1,491 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America raised their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 19th. Macquarie lowered their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report 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 for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley reduced 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 report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Insider Transactions at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction dated 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 owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 32.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.85% of the company’s stock.

Madison Square Garden Entertainment Price Performance

MSGE stock opened at $36.99 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 10.11, a P/E/G ratio of 3.34 and a beta of 0.17. The business’s 50-day moving average is $40.43 and its two-hundred day moving average is $38.43. Madison Square Garden Entertainment Corp. has a 1 year low of $29.71 and a 1 year high of $44.14.

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

Madison Square Garden Entertainment 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.