Epoch Investment Partners Inc. Has $2.89 Million Holdings in Madison Square Garden Entertainment Corp. $MSGE

Epoch Investment Partners Inc. lifted its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 26.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,573 shares of the company’s stock after acquiring an additional 11,156 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.13% of Madison Square Garden Entertainment worth $2,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MSGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Madison Square Garden Entertainment by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock worth $775,000 after acquiring an additional 1,193 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter worth approximately $4,994,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter worth approximately $210,000. Jane Street Group LLC acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter worth approximately $1,468,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Madison Square Garden Entertainment by 53.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock worth $4,089,000 after acquiring an additional 35,678 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Stock Performance

Shares of Madison Square Garden Entertainment stock opened at $74.27 on Tuesday. The firm has a fifty day moving average of $66.70 and a two-hundred day moving average of $60.54. The company has a debt-to-equity ratio of 11.40, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 72.82 and a beta of 0.61. Madison Square Garden Entertainment Corp. has a 52 week low of $35.31 and a 52 week high of $74.94.

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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. As a group, equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.28 EPS for the current year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $74.48, for a total value of $737,873.36. Following the transaction, the executive vice president owned 15,772 shares of the company’s stock, valued at $1,174,698.56. This represents a 38.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MSGE. JPMorgan Chase & Co. boosted their target price on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Guggenheim boosted their price objective on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Susquehanna boosted their price objective on shares of Madison Square Garden Entertainment from $77.00 to $80.00 and gave the stock a “positive” rating in a research report on Thursday, May 28th. BTIG Research restated a “buy” rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. Finally, Weiss Ratings cut shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Madison Square Garden Entertainment Company Profile

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.