Monashee Investment Management LLC Purchases Shares of 10,000 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Monashee Investment Management LLC acquired a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGEFree Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the company’s stock, valued at approximately $336,000.

Several other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in Madison Square Garden Entertainment by 46.1% during the second quarter. Westside Investment Management Inc. now owns 1,128 shares of the company’s stock worth $36,000 after purchasing an additional 356 shares during the period. US Bancorp DE boosted its stake in shares of Madison Square Garden Entertainment by 71.4% during the 2nd quarter. US Bancorp DE now owns 2,047 shares of the company’s stock worth $62,000 after acquiring an additional 853 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Madison Square Garden Entertainment during the 1st quarter worth approximately $62,000. Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 515 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its stake in Madison Square Garden Entertainment by 162.6% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 3,844 shares of the company’s stock valued at $120,000 after acquiring an additional 2,380 shares during the period. 70.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Entertainment Co. Sphere sold 8,221,188 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $31.20, for a total transaction of $256,501,065.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Madison Square Garden Entertainment from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, September 1st. JPMorgan Chase & Co. reduced their target price on shares of Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Bank of America assumed coverage on shares of Madison Square Garden Entertainment in a report on Tuesday, August 22nd. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Guggenheim raised their target price on shares of Madison Square Garden Entertainment from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.83.

Read Our Latest Report on MSGE

Madison Square Garden Entertainment Stock Up 0.1 %

Shares of Madison Square Garden Entertainment stock traded up $0.03 on Monday, reaching $30.67. 100,999 shares of the stock were exchanged, compared to its average volume of 459,754. The firm’s 50 day moving average is $31.49 and its 200-day moving average is $33.12. The company has a debt-to-equity ratio of 14.79, a quick ratio of 0.47 and a current ratio of 0.47. Madison Square Garden Entertainment Corp. has a one year low of $27.55 and a one year high of $40.81.

Madison Square Garden Entertainment (NYSE:MSGEGet Free Report) last released its quarterly earnings data on Friday, August 18th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.16. The business had revenue of $147.90 million during the quarter, compared to analyst estimates of $140.52 million. The firm’s revenue was down 17.0% compared to the same quarter last year. On average, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 0.6 EPS for the current fiscal year.

About Madison Square Garden Entertainment

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Madison Square Garden Entertainment (NYSE:MSGE)

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