Creative Planning Takes Position in Madison Square Garden Entertainment Corp. $MSGE

Creative Planning bought a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,726 shares of the company’s stock, valued at approximately $509,000.

Several other large investors have also added to or reduced their stakes in MSGE. Police & Firemen s Retirement System of New Jersey increased its holdings in Madison Square Garden Entertainment by 9.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,280 shares of the company’s stock worth $371,000 after purchasing an additional 805 shares in the last quarter. KBC Group NV boosted its position in shares of Madison Square Garden Entertainment by 80.1% during the second quarter. KBC Group NV now owns 1,688 shares of the company’s stock valued at $67,000 after buying an additional 751 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Madison Square Garden Entertainment during the second quarter worth $764,000. Teacher Retirement System of Texas purchased a new stake in Madison Square Garden Entertainment in the 2nd quarter valued at $236,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Madison Square Garden Entertainment during the 2nd quarter valued at $1,290,000. Institutional investors own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Up 0.6%

Madison Square Garden Entertainment stock opened at $51.82 on Friday. The firm has a 50 day moving average price of $46.22 and a 200-day moving average price of $41.85. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment Corp. has a twelve month low of $28.29 and a twelve month high of $52.25. The company has a market capitalization of $2.09 billion, a P/E ratio of 74.03 and a beta of 0.43.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.13. Madison Square Garden Entertainment had a net margin of 3.65% and a negative return on equity of 310.15%. The company had revenue of $158.26 million for the quarter, compared to analysts’ expectations of $156.62 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. Madison Square Garden Entertainment’s revenue was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MSGE. Wall Street Zen upgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on shares of Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. The Goldman Sachs Group boosted their target price on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday. Finally, Morgan Stanley lifted their price target on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and an average target price of $45.50.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.