Fmr LLC Has $4.68 Million Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

FMR LLC lifted its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 76.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,035 shares of the company's stock after buying an additional 47,635 shares during the period. FMR LLC owned approximately 0.23% of Madison Square Garden Entertainment worth $4,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC increased its holdings 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 purchasing an additional 594 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Madison Square Garden Entertainment in the 3rd quarter valued at approximately $259,000. Intech Investment Management LLC bought a new stake in shares of Madison Square Garden Entertainment in the third quarter worth $291,000. Handelsbanken Fonder AB acquired a new position in Madison Square Garden Entertainment during the 3rd quarter worth $323,000. Finally, Marshall Wace LLP lifted its position in shares of Madison Square Garden Entertainment by 5.8% during the second 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. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE stock traded down $0.59 during midday trading on Friday, reaching $34.37. 194,245 shares of the company were exchanged, compared to its average volume of 406,036. The company has a market cap of $1.65 billion, a P/E ratio of 9.55, a PEG ratio of 3.20 and a beta of -0.04. Madison Square Garden Entertainment Corp. has a 12 month low of $30.10 and a 12 month high of $44.14. The company's 50 day moving average price is $39.55 and its two-hundred day moving average price is $38.44.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.40) 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 the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) EPS. As a group, sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current year.

Insider Activity

In related news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the company's stock in a transaction that occurred on 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 represents a 32.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MSGE. Bank of America lifted their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Morgan Stanley decreased their price target on shares of 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. Guggenheim dropped 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 research note on Tuesday, November 12th. Finally, Macquarie decreased their target price 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.00.

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.