Geode Capital Management LLC Purchases 24,772 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Geode Capital Management LLC increased its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 938,463 shares of the company's stock after purchasing an additional 24,772 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Madison Square Garden Entertainment worth $39,921,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Madison Square Garden Entertainment by 1,425.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 899,614 shares of the company's stock worth $38,261,000 after buying an additional 840,631 shares in the last quarter. Long Pond Capital LP purchased a new stake in shares of Madison Square Garden Entertainment during the second quarter worth $12,407,000. Federated Hermes Inc. boosted its position 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 valued at $19,507,000 after purchasing an additional 186,475 shares during the last quarter. Millennium Management LLC grew its stake 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 valued at $4,021,000 after purchasing an additional 64,245 shares in the last quarter. Finally, Duquesne Family Office LLC grew 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. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Price Performance

Shares of MSGE stock traded up $0.14 during trading on Wednesday, reaching $33.20. The company had a trading volume of 147,858 shares, compared to its average volume of 407,670. Madison Square Garden Entertainment Corp. has a one year low of $30.10 and a one year high of $44.14. The firm's 50 day simple moving average is $38.17 and its two-hundred day simple moving average is $38.41. The company has a market capitalization of $1.60 billion, a PE ratio of 9.07, a PEG ratio of 3.13 and a beta of -0.04.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.39. Madison Square Garden Entertainment had a negative return on equity of 261.70% and a net margin of 18.38%. The company had revenue of $138.70 million for the quarter, compared to the consensus estimate of $139.46 million. During the same period last year, the business posted ($0.73) earnings per share. The firm's revenue was down 2.5% compared to the same quarter last year. Analysts forecast that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MSGE. Macquarie cut their price target 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. 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 on the stock in a research report on Monday, November 11th. Finally, Guggenheim decreased their target price on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a "buy" rating for the company in a research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.00.

Insider Transactions at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the completion of the transaction, the executive vice president now owns 12,192 shares of the company's stock, valued at approximately $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.85% of the stock is currently owned by corporate insiders.

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.