Madison Square Garden Entertainment Corp. (NYSE:MSGE) Director Sells $54,444.88 in Stock

Posted by Defense World Staff on Mar 13th, 2023

Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) Director Isiah Thomas III sold 931 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $58.48, for a total value of $54,444.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Madison Square Garden Entertainment Trading Down 2.4 %

Shares of Madison Square Garden Entertainment stock opened at $56.88 on Monday. The stock has a fifty day simple moving average of $53.60 and a 200 day simple moving average of $49.75. The company has a market capitalization of $1.97 billion, a P/E ratio of -19.89 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Madison Square Garden Entertainment Corp. has a 12-month low of $38.98 and a 12-month high of $84.57.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MSGE. Guggenheim reduced their target price on Madison Square Garden Entertainment to $77.00 in a report on Tuesday, November 15th. Morgan Stanley increased their price objective on shares of Madison Square Garden Entertainment from $50.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Finally, Jefferies Financial Group cut shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating and dropped their target price for the company from $100.00 to $49.00 in a research report on Tuesday, November 15th.

Institutional Investors Weigh In On Madison Square Garden Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSGE. Alliancebernstein L.P. boosted its stake in shares of Madison Square Garden Entertainment by 2.1% in the 4th quarter. Alliancebernstein L.P. now owns 29,060 shares of the company’s stock worth $1,307,000 after buying an additional 600 shares during the last quarter. Systematic Financial Management LP boosted its position in Madison Square Garden Entertainment by 6.7% in the fourth quarter. Systematic Financial Management LP now owns 405,497 shares of the company’s stock worth $18,235,000 after purchasing an additional 25,542 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Madison Square Garden Entertainment by 2.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 933,844 shares of the company’s stock valued at $41,995,000 after purchasing an additional 19,087 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Madison Square Garden Entertainment during the 4th quarter valued at $619,000. Finally, Luxor Capital Group LP raised its stake in shares of Madison Square Garden Entertainment by 49.9% during the 4th quarter. Luxor Capital Group LP now owns 297,702 shares of the company’s stock worth $13,388,000 after purchasing an additional 99,100 shares during the period. Hedge funds and other institutional investors own 73.28% of the company’s stock.

About Madison Square Garden Entertainment

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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.