Garden State Investment Advisory Services LLC Has $332,000 Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Garden State Investment Advisory Services LLC trimmed its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 53.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,796 shares of the company’s stock after selling 8,869 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Madison Square Garden Entertainment were worth $332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC raised its position 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 purchasing an additional 594 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in Madison Square Garden Entertainment during the third quarter worth $219,000. DekaBank Deutsche Girozentrale grew its holdings in Madison Square Garden Entertainment by 101.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock worth $207,000 after buying an additional 2,639 shares in the last quarter. Captrust Financial Advisors bought a new stake in Madison Square Garden Entertainment during the third quarter worth $227,000. Finally, Cannon Global Investment Management LLC bought a new stake in Madison Square Garden Entertainment during the third quarter worth $259,000. 96.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Macquarie reduced their price objective on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Guggenheim reduced their price objective on Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Bank of America upped their price objective 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Madison Square Garden Entertainment Stock Performance

MSGE stock opened at $36.57 on Tuesday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.37 and a beta of -0.03. Madison Square Garden Entertainment Corp. has a fifty-two week low of $30.00 and a fifty-two week high of $44.14. The stock has a fifty day moving average of $40.43 and a 200-day moving average of $38.45.

Madison Square Garden Entertainment (NYSE:MSGE) last issued 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. The business had revenue of $138.70 million for the quarter, compared to analysts’ expectations of $139.46 million. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.73) EPS. Equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 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 firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the sale, the executive vice president now owns 12,192 shares of the company’s stock, valued at $517,306.56. This trade represents a 32.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.85% of the company’s stock.

Madison Square Garden Entertainment 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.