Russell Investments Group Ltd. Cuts Stock Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Russell Investments Group Ltd. lowered its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,249 shares of the company’s stock after selling 4,971 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Madison Square Garden Entertainment worth $1,090,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 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 purchasing an additional 294 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Madison Square Garden Entertainment in the 1st quarter worth about $62,000. Great West Life Assurance Co. Can bought a new position in shares of Madison Square Garden Entertainment in the 3rd quarter worth about $58,000. Tower Research Capital LLC TRC lifted its position in Madison Square Garden Entertainment by 40.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,800 shares of the company’s stock valued at $79,000 after purchasing an additional 515 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at about $201,000. Hedge funds and other institutional investors own 73.28% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, Director Isiah Thomas III sold 931 shares of Madison Square Garden Entertainment stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $58.48, for a total value of $54,444.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 24.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MSGE. 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. 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 price objective on the stock. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Sunday, April 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Madison Square Garden Entertainment presently has an average rating of “Hold” and a consensus price target of $56.20.

Madison Square Garden Entertainment Stock Performance

MSGE stock opened at $35.71 on Friday. The firm has a 50 day simple moving average of $44.97 and a 200 day simple moving average of $48.06. Madison Square Garden Entertainment Corp. has a 52 week low of $28.09 and a 52 week high of $39.19.

Madison Square Garden Entertainment Company Profile

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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.