Price T Rowe Associates Inc. MD Buys 241,244 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Posted by Defense World Staff on Mar 14th, 2023

Price T Rowe Associates Inc. MD increased its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 18.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,547,239 shares of the company’s stock after buying an additional 241,244 shares during the period. Price T Rowe Associates Inc. MD owned 4.52% of Madison Square Garden Entertainment worth $68,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Weik Capital Management boosted its holdings in Madison Square Garden Entertainment by 5.2% in the 1st quarter. Weik Capital Management now owns 4,670 shares of the company’s stock worth $389,000 after buying an additional 230 shares during the period. Sei Investments Co. boosted its holdings in Madison Square Garden Entertainment by 3.2% in the 1st quarter. Sei Investments Co. now owns 8,380 shares of the company’s stock worth $707,000 after buying an additional 261 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Madison Square Garden Entertainment by 82.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 649 shares of the company’s stock worth $28,000 after buying an additional 294 shares during the period. Oxbow Advisors LLC lifted its stake in Madison Square Garden Entertainment by 2.3% in the 3rd quarter. Oxbow Advisors LLC now owns 15,930 shares of the company’s stock worth $702,000 after purchasing an additional 354 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its stake in Madison Square Garden Entertainment by 1.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 28,349 shares of the company’s stock worth $1,250,000 after purchasing an additional 437 shares in the last quarter. 73.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MSGE shares. Jefferies Financial Group cut shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating and lowered their target price for the stock from $100.00 to $49.00 in a research note on Tuesday, November 15th. Guggenheim lowered their target price on shares of Madison Square Garden Entertainment to $77.00 in a research note on Tuesday, November 15th. Finally, Morgan Stanley increased their target price 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.

Insider Activity

In other news, Director Isiah Thomas III sold 931 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $58.48, for a total transaction of $54,444.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 24.60% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

Madison Square Garden Entertainment stock opened at $55.50 on Tuesday. The firm’s fifty day moving average price is $53.81 and its 200-day moving average price is $49.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $1.92 billion, a P/E ratio of -19.41 and a beta of 1.27. Madison Square Garden Entertainment Corp. has a fifty-two week low of $38.98 and a fifty-two week high of $84.57.

Madison Square Garden Entertainment Company Profile

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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.