DekaBank Deutsche Girozentrale Increases Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

DekaBank Deutsche Girozentrale boosted its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 98.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,597 shares of the company’s stock after buying an additional 1,290 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Madison Square Garden Entertainment were worth $82,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth about $43,000. National Bank of Canada FI lifted its position in shares of Madison Square Garden Entertainment by 359.3% during the third quarter. National Bank of Canada FI now owns 1,534 shares of the company’s stock worth $50,000 after purchasing an additional 1,200 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth about $62,000. Tower Research Capital LLC TRC lifted its position in shares of Madison Square Garden Entertainment by 40.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,800 shares of the company’s stock worth $79,000 after purchasing an additional 515 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Madison Square Garden Entertainment by 57.5% during the second quarter. Osaic Holdings Inc. now owns 3,294 shares of the company’s stock worth $89,000 after purchasing an additional 1,202 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Insider Activity at Madison Square Garden Entertainment

In related news, CEO James Lawrence Dolan sold 24,284 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $37.31, for a total value of $906,036.04. Following the sale, the chief executive officer now owns 360,242 shares of the company’s stock, valued at $13,440,629.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 190,080 shares of company stock valued at $7,221,633 over the last 90 days. 18.72% of the stock is owned by corporate insiders.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $37.84 on Thursday. The stock has a market capitalization of $1.56 billion and a PE ratio of 24.57. Madison Square Garden Entertainment Corp. has a 1 year low of $27.55 and a 1 year high of $40.81. The company’s 50-day simple moving average is $38.22 and its 200-day simple moving average is $33.89.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.69. The business had revenue of $402.67 million for the quarter, compared to analysts’ expectations of $385.92 million. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. On average, sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.08 earnings per share 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.