Versor Investments LP Buys New Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Versor Investments LP bought a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,300 shares of the company’s stock, valued at approximately $396,000.

A number of other institutional investors also recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. lifted its position in Madison Square Garden Entertainment by 7.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,465,724 shares of the company’s stock worth $96,681,000 after buying an additional 162,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Madison Square Garden Entertainment by 1,425.2% in the third quarter. Assenagon Asset Management S.A. now owns 899,614 shares of the company’s stock worth $38,261,000 after buying an additional 840,631 shares during the last quarter. Duquesne Family Office LLC lifted its position in Madison Square Garden Entertainment by 8.5% in the second quarter. Duquesne Family Office LLC now owns 694,225 shares of the company’s stock worth $23,763,000 after buying an additional 54,425 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Madison Square Garden Entertainment in the first quarter worth $23,032,000. Finally, Federated Hermes Inc. lifted its position in Madison Square Garden Entertainment by 48.6% in the second quarter. Federated Hermes Inc. now owns 569,884 shares of the company’s stock worth $19,507,000 after buying an additional 186,475 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Insider Activity at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now owns 12,192 shares in the company, valued at $517,306.56. The trade was a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.85% of the stock is currently owned by corporate insiders.

Madison Square Garden Entertainment Price Performance

MSGE stock opened at $35.81 on Friday. The business has a 50-day moving average price of $41.45 and a 200 day moving average price of $38.64. The company has a market capitalization of $1.72 billion, a P/E ratio of 10.04, a PEG ratio of 3.82 and a beta of 0.17. Madison Square Garden Entertainment Corp. has a 1-year low of $29.27 and a 1-year high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.39. The firm had revenue of $138.70 million during the quarter, compared to the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.73) earnings per share. On average, analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MSGE has been the subject of a number of analyst reports. Guggenheim lowered their price target on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday. Macquarie decreased their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. Bank of America lifted their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $41.00 to $45.00 in a research report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Madison Square Garden Entertainment Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.