Seizert Capital Partners LLC Cuts Stock Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Seizert Capital Partners LLC lowered its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 44.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,482 shares of the company’s stock after selling 14,517 shares during the period. Seizert Capital Partners LLC’s holdings in Madison Square Garden Entertainment were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC lifted its position in Madison Square Garden Entertainment by 913.8% in the 3rd quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 594 shares in the last quarter. Garner Asset Management Corp bought a new position in Madison Square Garden Entertainment in the 1st quarter valued at approximately $573,000. DekaBank Deutsche Girozentrale lifted its position in Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after acquiring an additional 2,639 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in Madison Square Garden Entertainment in the 3rd quarter valued at approximately $259,000. Finally, ProShare Advisors LLC lifted its position in Madison Square Garden Entertainment by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,143 shares of the company’s stock valued at $280,000 after acquiring an additional 561 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Madison Square Garden Entertainment Stock Performance

Shares of Madison Square Garden Entertainment stock opened at $36.39 on Monday. The stock has a market cap of $1.75 billion, a P/E ratio of 9.94, a P/E/G ratio of 3.32 and a beta of 0.17. The stock’s fifty day moving average is $41.28 and its 200 day moving average is $38.59. Madison Square Garden Entertainment Corp. has a one year low of $29.64 and a one year 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 for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.39. The firm 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 business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) EPS. 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 transaction of $254,580.00. Following the sale, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at $517,306.56. This trade represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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 report on Monday, August 19th. Morgan Stanley lowered their price target 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. The Goldman Sachs Group raised Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Macquarie lowered their price target on Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their price target on 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

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.