New York State Common Retirement Fund Has $19.96 Million Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

New York State Common Retirement Fund boosted its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,261 shares of the company’s stock after buying an additional 24,644 shares during the period. New York State Common Retirement Fund owned approximately 1.14% of Madison Square Garden Entertainment worth $19,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Madison Square Garden Entertainment by 110.7% during the 1st quarter. Russell Investments Group Ltd. now owns 104,538 shares of the company’s stock worth $4,099,000 after purchasing an additional 54,918 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Madison Square Garden Entertainment during the 2nd quarter worth about $1,494,000. Epoch Investment Partners Inc. bought a new position in shares of Madison Square Garden Entertainment during the 1st quarter worth about $13,076,000. Bank of New York Mellon Corp boosted its position in shares of Madison Square Garden Entertainment by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 167,073 shares of the company’s stock worth $5,719,000 after purchasing an additional 17,793 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Madison Square Garden Entertainment by 1,569.2% during the 1st quarter. Lazard Asset Management LLC now owns 43,348 shares of the company’s stock worth $1,699,000 after purchasing an additional 40,751 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Price Performance

MSGE opened at $40.54 on Tuesday. The firm has a market capitalization of $1.69 billion, a PE ratio of 13.25, a P/E/G ratio of 3.62 and a beta of 0.17. Madison Square Garden Entertainment Corp. has a fifty-two week low of $27.55 and a fifty-two week high of $44.04. The company’s 50-day moving average is $41.67 and its 200 day moving average is $38.59.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Friday, August 16th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of ($0.56) by $1.97. The firm had revenue of $186.10 million during the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. As a group, analysts expect that Madison Square Garden Entertainment Corp. will post 1.66 EPS for the current year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the 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 completion of the sale, the executive vice president now owns 12,192 shares in the company, valued at approximately $517,306.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 18.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MSGE. Morgan Stanley increased 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. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and upped their target price for the stock from $41.00 to $45.00 in a report on Wednesday, July 24th. Macquarie upped their target price on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Finally, Bank of America upped their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Madison Square Garden Entertainment has an average rating of “Moderate Buy” and a consensus price target of $44.20.

About Madison Square Garden Entertainment

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.