Madison Square Garden Entertainment (NYSE:MSGE) Upgraded by Wall Street Zen to Buy Rating

Madison Square Garden Entertainment (NYSE:MSGE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

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

Madison Square Garden Entertainment Price Performance

Shares of NYSE MSGE opened at $51.82 on Friday. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.48 and a current ratio of 0.48. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $52.25. The firm has a market capitalization of $2.09 billion, a PE ratio of 74.03 and a beta of 0.43. The stock’s 50-day simple moving average is $46.22 and its 200-day simple moving average is $41.85.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. The firm had revenue of $158.26 million during the quarter, compared to the consensus estimate of $156.62 million. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) earnings per share. As a group, equities research analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ariel Investments LLC raised its holdings in shares of Madison Square Garden Entertainment by 1.6% in the second quarter. Ariel Investments LLC now owns 7,896,008 shares of the company’s stock valued at $315,603,000 after buying an additional 120,635 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings in shares of Madison Square Garden Entertainment by 5.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company’s stock worth $94,479,000 after buying an additional 152,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Madison Square Garden Entertainment by 23.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company’s stock valued at $46,768,000 after acquiring an additional 198,361 shares during the period. Dendur Capital LP raised its stake in Madison Square Garden Entertainment by 60.1% during the 2nd quarter. Dendur Capital LP now owns 925,500 shares of the company’s stock valued at $36,992,000 after acquiring an additional 347,500 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Madison Square Garden Entertainment by 0.4% during the 1st quarter. Systematic Financial Management LP now owns 923,407 shares of the company’s stock valued at $30,232,000 after acquiring an additional 3,930 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

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.