Janus Henderson Group PLC Sells 50,519 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Janus Henderson Group PLC decreased its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 71.7% during the 3rd quarter, Holdings Channel reports. The firm owned 19,892 shares of the company’s stock after selling 50,519 shares during the quarter. Janus Henderson Group PLC’s holdings in Madison Square Garden Entertainment were worth $846,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Madison Square Garden Entertainment by 1,425.2% in the third quarter. Assenagon Asset Management S.A. now owns 899,614 shares of the company’s stock valued at $38,261,000 after buying an additional 840,631 shares during the period. Long Pond Capital LP acquired a new position in shares of Madison Square Garden Entertainment during the 2nd quarter valued at $12,407,000. Federated Hermes Inc. boosted its stake in Madison Square Garden Entertainment by 48.6% during the second quarter. Federated Hermes Inc. now owns 569,884 shares of the company’s stock worth $19,507,000 after acquiring an additional 186,475 shares in the last quarter. Millennium Management LLC grew its holdings in Madison Square Garden Entertainment by 120.7% in the second quarter. Millennium Management LLC now owns 117,481 shares of the company’s stock worth $4,021,000 after purchasing an additional 64,245 shares during the period. Finally, Duquesne Family Office LLC increased its stake in Madison Square Garden Entertainment by 8.5% in the second quarter. Duquesne Family Office LLC now owns 694,225 shares of the company’s stock valued at $23,763,000 after purchasing an additional 54,425 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction on Monday, September 30th. The stock was sold at an average price of $42.43, for a total transaction of $254,580.00. Following the sale, the executive vice president now directly owns 12,192 shares in the company, valued at $517,306.56. The trade was a 32.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 17.85% of the company’s stock.

Madison Square Garden Entertainment Trading Down 1.7 %

Shares of Madison Square Garden Entertainment stock opened at $34.37 on Friday. The company has a market capitalization of $1.65 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 3.20 and a beta of -0.04. The stock has a fifty day simple moving average of $39.40 and a 200 day simple moving average of $38.45. Madison Square Garden Entertainment Corp. has a 12-month low of $30.10 and a 12-month high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The firm had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. During the same period in the previous year, the firm earned ($0.73) EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MSGE shares. Bank of America raised their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Macquarie decreased their price objective on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Morgan Stanley cut their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their price objective on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

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.