AXQ Capital LP Takes $406,000 Position in Madison Square Garden Entertainment Corp. $MSGE

AXQ Capital LP purchased a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,531 shares of the company’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Madison Square Garden Entertainment by 15.1% in the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after purchasing an additional 226 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Madison Square Garden Entertainment by 1.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after buying an additional 418 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Madison Square Garden Entertainment by 6.2% during the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock worth $350,000 after buying an additional 451 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Madison Square Garden Entertainment by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 7,251 shares of the company’s stock worth $391,000 after buying an additional 468 shares during the period. Finally, First Horizon Corp acquired a new position in Madison Square Garden Entertainment in the 4th quarter valued at about $37,000. 96.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MSGE shares. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. Guggenheim increased their target price on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings cut Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Susquehanna boosted their target price on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the company a “positive” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.50.

Madison Square Garden Entertainment Stock Down 0.6%

Shares of NYSE MSGE opened at $71.35 on Friday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 69.96 and a beta of 0.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 11.40. Madison Square Garden Entertainment Corp. has a 12 month low of $35.31 and a 12 month high of $73.00. The stock has a 50-day moving average price of $64.54 and a two-hundred day moving average price of $59.28.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $246.26 million during the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, analysts forecast that Madison Square Garden Entertainment Corp. will post 1.28 earnings per share for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.