Madison Square Garden Entertainment Corp. (NYSE:MSGE) Receives Average Rating of “Hold” from Analysts

Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $56.20.

Several equities research analysts have recently commented on the company. Seaport Res Ptn reissued a “buy” rating on shares of Madison Square Garden Entertainment in a report on Sunday, April 23rd. Guggenheim initiated 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 target price for the company. Finally, Morgan Stanley raised their target price on shares of Madison Square Garden Entertainment from $50.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, February 10th.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, Director Isiah Thomas III sold 931 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $58.48, for a total transaction of $54,444.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Madison Square Garden Entertainment

Several hedge funds have recently bought and sold shares of MSGE. JPMorgan Chase & Co. lifted its holdings in shares of Madison Square Garden Entertainment by 23.6% during the first quarter. JPMorgan Chase & Co. now owns 34,123 shares of the company’s stock worth $2,016,000 after buying an additional 6,505 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Madison Square Garden Entertainment by 190.8% during the first quarter. Ancora Advisors LLC now owns 68,295 shares of the company’s stock worth $4,034,000 after buying an additional 44,810 shares in the last quarter. Third Avenue Management LLC raised its position in shares of Madison Square Garden Entertainment by 27.8% in the first quarter. Third Avenue Management LLC now owns 81,238 shares of the company’s stock valued at $4,799,000 after buying an additional 17,680 shares in the last quarter. State Street Corp boosted its stake in shares of Madison Square Garden Entertainment by 5.3% in the first quarter. State Street Corp now owns 561,887 shares of the company’s stock valued at $33,191,000 after buying an additional 28,273 shares during the period. Finally, First Trust Advisors LP grew its position in Madison Square Garden Entertainment by 61.4% during the first quarter. First Trust Advisors LP now owns 48,755 shares of the company’s stock worth $2,880,000 after buying an additional 18,552 shares in the last quarter. 73.28% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Price Performance

NYSE MSGE opened at $38.04 on Wednesday. Madison Square Garden Entertainment has a 12 month low of $28.09 and a 12 month high of $39.19. The stock has a 50 day moving average of $45.71 and a 200-day moving average of $48.23.

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.