Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 1,425.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 899,614 shares of the company’s stock after buying an additional 840,631 shares during the period. Assenagon Asset Management S.A.’s holdings in Madison Square Garden Entertainment were worth $38,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Oliver Luxxe Assets LLC purchased a new position in shares of Madison Square Garden Entertainment during the third quarter worth $1,853,000. Handelsbanken Fonder AB acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter worth about $323,000. Quent Capital LLC raised its stake in shares of Madison Square Garden Entertainment by 913.8% during the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 594 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Madison Square Garden Entertainment by 77.4% in the third quarter. SG Americas Securities LLC now owns 18,325 shares of the company’s stock worth $779,000 after buying an additional 7,996 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Madison Square Garden Entertainment in the second quarter worth about $303,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on MSGE. Bank of America upped their price objective on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Morgan Stanley upped their price objective on shares of Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Macquarie lifted their price target on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group raised Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.20.

Madison Square Garden Entertainment Trading Up 0.8 %

Shares of Madison Square Garden Entertainment stock opened at $42.09 on Friday. Madison Square Garden Entertainment Corp. has a twelve month low of $27.55 and a twelve month high of $44.04. The firm has a market capitalization of $1.73 billion, a PE ratio of 35.37, a P/E/G ratio of 3.70 and a beta of 0.13. The firm’s 50-day moving average price is $41.53 and its 200 day moving average price is $38.43.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Friday, August 16th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The firm had revenue of $186.10 million for the quarter, compared to analyst estimates of $173.26 million. During the same period in the previous year, the company posted ($0.47) earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.66 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.