The Goldman Sachs Group Initiates Coverage on Madison Square Garden Entertainment (NYSE:MSGE)

Investment analysts at The Goldman Sachs Group initiated coverage on shares of Madison Square Garden Entertainment (NYSE:MSGE – Get Rating) in a note issued to investors on Friday, The Fly reports. The brokerage set a “neutral” rating on the stock.

MSGE has been the subject of a number of other research reports. Morgan Stanley increased their price target 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. Seaport Res Ptn reiterated a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Sunday, April 23rd. Finally, Guggenheim began 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 target for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.20.

Madison Square Garden Entertainment Trading Down 0.9 %

Shares of MSGE stock opened at $35.71 on Friday. The company has a fifty day moving average price of $44.97 and a two-hundred day moving average price of $48.06. Madison Square Garden Entertainment has a one year low of $28.09 and a one year high of $39.19.

Insider Buying and Selling

In related news, Director Isiah Thomas III sold 931 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $58.48, for a total transaction of $54,444.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. 24.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Madison Square Garden Entertainment

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Madison Square Garden Entertainment by 23.6% in the 1st quarter. JPMorgan Chase & Co. now owns 34,123 shares of the company’s stock valued at $2,016,000 after purchasing an additional 6,505 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Madison Square Garden Entertainment by 190.8% in the 1st quarter. Ancora Advisors LLC now owns 68,295 shares of the company’s stock valued at $4,034,000 after purchasing an additional 44,810 shares in the last quarter. Third Avenue Management LLC boosted its position in Madison Square Garden Entertainment by 27.8% during the 1st quarter. Third Avenue Management LLC now owns 81,238 shares of the company’s stock worth $4,799,000 after buying an additional 17,680 shares during the period. State Street Corp boosted its position in Madison Square Garden Entertainment by 5.3% during the 1st quarter. State Street Corp now owns 561,887 shares of the company’s stock worth $33,191,000 after buying an additional 28,273 shares during the period. Finally, First Trust Advisors LP boosted its position in Madison Square Garden Entertainment by 61.4% during the 1st 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 during the period. 73.28% of the stock is currently owned by institutional investors and hedge funds.

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.