Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) reached a new 52-week low on Thursday . The company traded as low as $48.05 and last traded at $48.05, with a volume of 3175 shares changing hands. The stock had previously closed at $50.25.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on MSGE. Wolfe Research cut their target price on shares of Madison Square Garden Entertainment from $88.00 to $73.00 and set a "peer perform" rating for the company in a report on Thursday, June 2nd. Guggenheim cut 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 report on Tuesday, August 23rd. Finally, Morgan Stanley cut 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 report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $83.00.
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Madison Square Garden Entertainment Stock Up 1.1 %
The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 1.27. The firm's 50 day simple moving average is $57.87 and its 200 day simple moving average is $64.49.
Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) last posted its quarterly earnings data on Friday, August 19th. The company reported ($1.97) EPS for the quarter, missing the consensus estimate of ($0.43) by ($1.54). The firm had revenue of $453.54 million for the quarter, compared to analysts' expectations of $409.06 million. Madison Square Garden Entertainment had a negative return on equity of 7.66% and a negative net
margin of 11.71%. Analysts predict that Madison Square Garden Entertainment Corp. will post -0.95 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Radnor Capital Management LLC boosted its stake in shares of Madison Square Garden Entertainment by 1.5% during the first quarter. Radnor Capital Management LLC now owns 10,380 shares of the company's stock valued at $865,000 after purchasing an additional 150 shares during the period. Weik Capital Management raised its holdings in shares of Madison Square Garden Entertainment by 5.2% in the first quarter. Weik Capital Management now owns 4,670 shares of the company's stock valued at $389,000 after acquiring an additional 230 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Madison Square Garden Entertainment by 5.3% in the first quarter. Teacher Retirement System of Texas now owns 5,108 shares of the company's stock valued at $426,000 after acquiring an additional 259 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Madison Square Garden Entertainment by 3.2% in the first quarter. Sei Investments Co. now owns 8,380 shares of the company's stock valued at $707,000 after acquiring an additional 261 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its holdings in shares of Madison Square Garden Entertainment by 0.5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 54,167 shares of the company's stock valued at $3,810,000 after acquiring an additional 262 shares in the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.
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.
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