Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) – Research analysts at Seaport Res Ptn cut their Q2 2024 EPS estimates for Madison Square Garden Entertainment in a note issued to investors on Friday, May 19th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of $1.68 per share for the quarter, down from their prior forecast of $1.90. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Madison Square Garden Entertainment’s current full-year earnings is $0.98 per share. Seaport Res Ptn also issued estimates for Madison Square Garden Entertainment’s FY2024 earnings at $1.23 EPS, FY2025 earnings at $1.65 EPS, FY2026 earnings at $2.07 EPS and FY2027 earnings at $2.51 EPS.
Other analysts also recently issued reports about the stock. Morgan Stanley boosted 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 report on Friday, February 10th. Guggenheim assumed coverage on shares of Madison Square Garden Entertainment in a research note on Wednesday, May 17th. They issued a “buy” rating and a $37.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.20.
Madison Square Garden Entertainment Price Performance
Insiders Place Their Bets
In other news, Director Isiah Thomas III sold 931 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $58.48, for a total transaction of $54,444.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.60% of the company’s stock.
Institutional Investors Weigh In On Madison Square Garden Entertainment
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSGE. Rockefeller Capital Management L.P. grew its holdings in Madison Square Garden Entertainment by 82.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 649 shares of the company’s stock valued at $28,000 after buying an additional 294 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter valued at about $58,000. Point72 Hong Kong Ltd acquired a new position in Madison Square Garden Entertainment in the 1st quarter worth about $62,000. Tower Research Capital LLC TRC increased its stake in Madison Square Garden Entertainment by 40.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,800 shares of the company’s stock worth $79,000 after buying an additional 515 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of Madison Square Garden Entertainment by 3,687.0% in the first quarter. Dark Forest Capital Management LP now owns 2,045 shares of the company’s stock valued at $121,000 after purchasing an additional 1,991 shares in the last quarter. 73.28% of the stock is owned by hedge funds and other institutional investors.
Madison Square Garden Entertainment Company Profile
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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