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

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

MSGE has been the subject of a number of other reports. Susquehanna boosted their target price on shares of Madison Square Garden Entertainment from $51.00 to $61.00 and gave the company a “positive” rating in a report on Thursday, December 11th. Wolfe Research lowered shares of Madison Square Garden Entertainment from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on Madison Square Garden Entertainment from $47.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Guggenheim increased their target price on Madison Square Garden Entertainment from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Madison Square Garden Entertainment in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Madison Square Garden Entertainment Trading Down 0.3%

NYSE MSGE opened at $61.95 on Friday. The business’s 50-day moving average price is $54.75 and its 200 day moving average price is $46.82. Madison Square Garden Entertainment has a twelve month low of $28.29 and a twelve month high of $62.76. The company has a market capitalization of $2.50 billion, a PE ratio of 88.50 and a beta of 0.40.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.13. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.The company had revenue of $158.26 million during the quarter, compared to analysts’ expectations of $156.62 million. During the same quarter in the previous year, the business earned ($0.40) EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Madison Square Garden Entertainment will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its holdings in Madison Square Garden Entertainment by 15.1% in the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after purchasing an additional 226 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Madison Square Garden Entertainment by 0.4% during the second quarter. Rhumbline Advisers now owns 63,178 shares of the company’s stock worth $2,525,000 after purchasing an additional 272 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Madison Square Garden Entertainment by 2.0% in the second quarter. Garden State Investment Advisory Services LLC now owns 15,902 shares of the company’s stock worth $636,000 after buying an additional 306 shares during the period. Orion Porfolio Solutions LLC grew its stake in shares of Madison Square Garden Entertainment by 1.9% in the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock valued at $906,000 after buying an additional 418 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Madison Square Garden Entertainment by 25.3% in the second quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock valued at $89,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

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.