Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) had its price objective trimmed by Guggenheim from $96.00 to $85.00 in a research report sent to investors on Tuesday, The Fly reports. The firm currently has a buy rating on the stock.
MSGE has been the topic of several other research reports. Wolfe Research dropped their price objective on Madison Square Garden Entertainment from $88.00 to $73.00 and set a peer perform rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley dropped their price objective on Madison Square Garden Entertainment from $65.00 to $63.00 and set an underweight rating on the stock in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $83.00.
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Madison Square Garden Entertainment Stock Performance
MSGE opened at $56.93 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.51 and a current ratio of 1.27. The business's 50-day simple moving average is $57.02 and its 200 day simple moving average is $67.59. The firm has a market capitalization of $1.95 billion, a PE ratio of -9.50 and a beta of 1.27. Madison Square Garden Entertainment has a 52-week low of $48.07 and a 52-week high of $85.60.
Hedge Funds Weigh In On Madison Square Garden Entertainment
A number of large investors have recently made changes to their positions in MSGE. Allspring Global Investments Holdings LLC bought a new position in shares of Madison Square Garden Entertainment during the fourth quarter worth approximately $327,000. Advisor Group Holdings Inc. increased its stake in shares of 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 worth $350,000 after purchasing an additional 326 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of 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 worth $437,000 after purchasing an additional 338 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of 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 worth $711,000 after purchasing an additional 1,918 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Madison Square Garden Entertainment by 36.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,049 shares of the company's stock worth $214,000 after purchasing an additional 820 shares during the period. Institutional investors own 73.12% 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 Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.
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