ProShare Advisors LLC Acquires 2,351 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

ProShare Advisors LLC grew its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 70.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,699 shares of the company’s stock after acquiring an additional 2,351 shares during the quarter. ProShare Advisors LLC’s holdings in Madison Square Garden Entertainment were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Madison Square Garden Entertainment by 35.0% during the 3rd quarter. BlackRock Inc. now owns 1,795,295 shares of the company’s stock valued at $130,464,000 after acquiring an additional 465,480 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Madison Square Garden Entertainment by 43.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 926,126 shares of the company’s stock valued at $67,302,000 after acquiring an additional 280,477 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Madison Square Garden Entertainment by 85.7% during the 3rd quarter. Primecap Management Co. CA now owns 793,101 shares of the company’s stock valued at $57,635,000 after acquiring an additional 366,100 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Madison Square Garden Entertainment by 46.2% during the 3rd quarter. Gabelli Funds LLC now owns 639,606 shares of the company’s stock valued at $46,480,000 after acquiring an additional 202,056 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Madison Square Garden Entertainment by 25.4% during the 3rd quarter. Geode Capital Management LLC now owns 427,007 shares of the company’s stock valued at $31,030,000 after acquiring an additional 86,484 shares during the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.

MSGE stock opened at $61.03 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.51 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $76.46 and its two-hundred day simple moving average is $73.60. Madison Square Garden Entertainment Corp. has a twelve month low of $57.66 and a twelve month high of $94.37. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -7.76 and a beta of 1.04.

Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) last released its earnings results on Monday, May 9th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.55). Madison Square Garden Entertainment had a negative return on equity of 9.60% and a negative net margin of 16.04%. The business had revenue of $460.10 million during the quarter, compared to analysts’ expectations of $441.64 million. During the same quarter in the previous year, the business earned ($3.66) EPS. The business’s revenue for the quarter was up 114.7% on a year-over-year basis.

A number of research analysts have recently commented on the company. Oppenheimer lowered their target price on Madison Square Garden Entertainment from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, February 10th. Zacks Investment Research upgraded Madison Square Garden Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. JPMorgan Chase & Co. lowered their price target on Madison Square Garden Entertainment from $79.00 to $76.00 in a research report on Thursday, April 21st. Finally, Jefferies Financial Group lowered their price target on Madison Square Garden Entertainment from $115.00 to $106.00 in a research report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.33.

Madison Square Garden Entertainment Profile (Get Rating)

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 Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.

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