Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,616 shares of the company's stock after selling 13,280 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.19% of Madison Square Garden Entertainment worth $24,396,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quent Capital LLC grew its position in shares of Madison Square Garden Entertainment by 913.8% in the third quarter. Quent Capital LLC now owns 659 shares of the company's stock valued at $28,000 after purchasing an additional 594 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Madison Square Garden Entertainment by 101.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company's stock valued at $207,000 after purchasing an additional 2,639 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at about $219,000. Captrust Financial Advisors acquired a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at about $227,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Madison Square Garden Entertainment in the second quarter valued at about $251,000. Institutional investors and hedge funds own 96.86% of the company's stock.

Madison Square Garden Entertainment Trading Down 0.2 %

MSGE stock traded down $0.08 during trading on Wednesday, reaching $38.79. 169,430 shares of the stock were exchanged, compared to its average volume of 404,800. The business has a 50 day moving average price of $40.29 and a 200-day moving average price of $38.46. Madison Square Garden Entertainment Corp. has a 1 year low of $30.00 and a 1 year high of $44.14. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 3.34 and a beta of -0.04.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating 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 was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.73) EPS. On average, research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

MSGE has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of 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. Macquarie lowered their price target 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. Morgan Stanley lowered their price target 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 lowered their price target on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

Insider Activity

In other news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the company's stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.85% of the company's stock.

Madison Square Garden Entertainment Company 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.