Susquehanna Forecasts Strong Price Appreciation for Madison Square Garden Entertainment (NYSE:MSGE) Stock

Madison Square Garden Entertainment (NYSE:MSGE) had its target price hoisted by analysts at Susquehanna from $51.00 to $61.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target would suggest a potential upside of 11.58% from the stock’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group lifted their price target on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Wall Street Zen raised shares of Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Madison Square Garden Entertainment in a report on Monday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.17.

Madison Square Garden Entertainment Stock Down 0.1%

Shares of Madison Square Garden Entertainment stock opened at $54.67 on Thursday. 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 has a 52-week low of $28.29 and a 52-week high of $55.75. The company has a market capitalization of $2.21 billion, a P/E ratio of 78.10 and a beta of 0.43. The company has a 50 day moving average of $46.98 and a 200 day moving average of $42.43.

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

Hedge Funds Weigh In On Madison Square Garden Entertainment

Hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. raised its stake in Madison Square Garden Entertainment by 119.7% during the 1st quarter. Maverick Capital Ltd. now owns 18,003 shares of the company’s stock valued at $589,000 after acquiring an additional 9,808 shares during the last quarter. Northern Trust Corp raised its stake in shares of Madison Square Garden Entertainment by 30.0% during the first quarter. Northern Trust Corp now owns 670,883 shares of the company’s stock worth $21,965,000 after purchasing an additional 154,888 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth $5,055,000. Long Pond Capital LP purchased a new position in Madison Square Garden Entertainment in the 1st quarter valued at $13,630,000. Finally, Northern Right Capital Management L.P. increased its stake in Madison Square Garden Entertainment by 16.4% in the 1st quarter. Northern Right Capital Management L.P. now owns 478,256 shares of the company’s stock valued at $15,658,000 after buying an additional 67,228 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

About Madison Square Garden Entertainment

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.