Fairbanks Capital Management Inc. lowered its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,330 shares of the company's stock after selling 453 shares during the quarter. Fairbanks Capital Management Inc.'s holdings in Madison Square Garden Entertainment were worth $861,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Madison Square Garden Entertainment during the fourth quarter valued at approximately $327,000. Advisor Group Holdings Inc. increased its position in Madison Square Garden Entertainment by 7.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,989 shares of the company's stock valued at $350,000 after acquiring an additional 326 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Madison Square Garden Entertainment by 5.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,216 shares of the company's stock valued at $437,000 after acquiring an additional 338 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Madison Square Garden Entertainment by 23.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,103 shares of the company's stock valued at $711,000 after acquiring an additional 1,918 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Madison Square Garden Entertainment by 18.0% during the fourth quarter. American Century Companies Inc. now owns 3,342 shares of the company's stock valued at $235,000 after acquiring an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 73.12% of the company's stock.
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Analyst Ratings Changes
MSGE has been the topic of a number of analyst reports. Wolfe Research cut their price objective on shares of Madison Square Garden Entertainment from $88.00 to $73.00 and set a "peer perform" rating on the stock in a research report on Thursday, June 2nd. Morgan Stanley lowered their target price on shares of Madison Square Garden Entertainment from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, June 15th. Finally, Guggenheim lowered their target price on shares of Madison Square Garden Entertainment from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $83.00.
Madison Square Garden Entertainment Stock Down 0.4 %
NYSE:MSGE traded down $0.27 during mid-day trading on Thursday, reaching $60.34. The company's stock had a trading volume of 2,759 shares, compared to its average volume of 179,476. Madison Square Garden Entertainment Corp. has a 1 year low of $48.07 and a 1 year high of $85.60. The stock has a fifty day moving average of $56.83 and a 200-day moving average of $67.77. The firm has a market capitalization of $2.06 billion, a PE ratio of -10.12 and a beta of 1.27. The company has a quick ratio of 1.51, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.
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 Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.
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