Central Pacific Bank Trust Division Trims Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Central Pacific Bank Trust Division decreased its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 45.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,446 shares of the company’s stock after selling 3,666 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Madison Square Garden Entertainment were worth $158,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP grew its position in Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock worth $267,000 after purchasing an additional 426 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Madison Square Garden Entertainment by 913.8% during the third quarter. Quent Capital LLC now owns 659 shares of the company’s stock worth $28,000 after buying an additional 594 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Madison Square Garden Entertainment by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,540 shares of the company’s stock worth $292,000 after buying an additional 805 shares during the last quarter. Garden State Investment Advisory Services LLC increased its position in Madison Square Garden Entertainment by 11.6% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 16,665 shares of the company’s stock valued at $570,000 after acquiring an additional 1,727 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its stake in Madison Square Garden Entertainment by 5.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 49,417 shares of the company’s stock valued at $2,102,000 after acquiring an additional 2,407 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MSGE. Guggenheim lowered their target price on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Macquarie lowered their price objective on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley cut their price objective on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Madison Square Garden Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Madison Square Garden Entertainment Stock Performance

Madison Square Garden Entertainment stock opened at $35.89 on Friday. Madison Square Garden Entertainment Corp. has a one year low of $30.13 and a one year high of $44.14. The company has a market cap of $1.72 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 3.13 and a beta of -0.04. The business has a fifty day moving average of $36.91 and a two-hundred day moving average of $38.43.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.40) 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 quarter in the previous year, the firm earned ($0.73) earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

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.