Epoch Investment Partners Inc. Has $1.21 Million Stock Holdings in Madison Square Garden Entertainment Corp. $MSGE

Epoch Investment Partners Inc. trimmed its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 61.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,577 shares of the company’s stock after selling 32,996 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Madison Square Garden Entertainment were worth $1,212,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MSGE. First Horizon Corp bought a new position in Madison Square Garden Entertainment in the fourth quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Madison Square Garden Entertainment in the fourth quarter valued at approximately $45,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Madison Square Garden Entertainment during the fourth quarter worth $47,000. State of Wyoming bought a new stake in shares of Madison Square Garden Entertainment during the second quarter worth $62,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Madison Square Garden Entertainment by 3,248.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock worth $67,000 after acquiring an additional 1,202 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on MSGE. 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $82.00 target price (up from $72.00) on shares of Madison Square Garden Entertainment in a report on Thursday, July 9th. BTIG Research reissued a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Thursday, May 21st. Morgan Stanley boosted their price target on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Madison Square Garden Entertainment in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Hold” and an average target price of $79.83.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $74.48, for a total transaction 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. The trade was a 38.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.41% of the stock is owned by company insiders.

Madison Square Garden Entertainment Price Performance

Shares of NYSE MSGE opened at $76.36 on Monday. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $74.14 and a 200-day moving average of $65.38. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 74.87 and a beta of 0.54. Madison Square Garden Entertainment Corp. has a fifty-two week low of $35.31 and a fifty-two week high of $82.79.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The company had revenue of $246.26 million for the quarter, compared to the consensus estimate of $242.99 million. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.35 earnings per share for the current fiscal year.

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.