Amalgamated Bank Cuts Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Amalgamated Bank trimmed its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,513 shares of the company’s stock after selling 721 shares during the period. Amalgamated Bank’s holdings in Madison Square Garden Entertainment were worth $175,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter valued at $43,000. NBC Securities Inc. acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter valued at $209,000. Commonwealth Equity Services LLC acquired a new position in Madison Square Garden Entertainment during the 3rd quarter worth $211,000. Graham Capital Management L.P. acquired a new position in Madison Square Garden Entertainment during the 3rd quarter worth $272,000. Finally, Arizona State Retirement System grew its holdings in Madison Square Garden Entertainment by 16.3% during the 3rd quarter. Arizona State Retirement System now owns 8,800 shares of the company’s stock worth $290,000 after acquiring an additional 1,233 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO James Lawrence Dolan sold 37,000 shares of Madison Square Garden Entertainment stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $38.10, for a total value of $1,409,700.00. Following the sale, the chief executive officer now directly owns 155,143 shares in the company, valued at approximately $5,910,948.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 190,080 shares of company stock valued at $7,221,633. Company insiders own 18.72% of the company’s stock.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock opened at $35.64 on Friday. The firm has a market cap of $1.47 billion and a P/E ratio of 30.20. Madison Square Garden Entertainment Corp. has a 1-year low of $27.55 and a 1-year high of $41.58. The firm has a fifty day moving average of $38.57 and a two-hundred day moving average of $35.08.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Madison Square Garden Entertainment had a net margin of 5.74% and a negative return on equity of 53.05%. The business had revenue of $228.30 million during the quarter, compared to analyst estimates of $227.63 million. During the same period in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts expect that Madison Square Garden Entertainment Corp. will post 1.23 EPS for the current year.

Madison Square Garden Entertainment Company 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.