Janus Henderson Group PLC Sells 50,519 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Janus Henderson Group PLC trimmed its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 71.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,892 shares of the company's stock after selling 50,519 shares during the quarter. Janus Henderson Group PLC's holdings in Madison Square Garden Entertainment were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSGE. Quent Capital LLC lifted its stake 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 worth $28,000 after buying an additional 594 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Madison Square Garden Entertainment during the 3rd quarter valued at about $219,000. Captrust Financial Advisors acquired a new stake in shares of Madison Square Garden Entertainment in the 3rd quarter valued at approximately $227,000. Cannon Global Investment Management LLC acquired a new stake in Madison Square Garden Entertainment during the 3rd quarter worth approximately $259,000. Finally, Marshall Wace LLP raised its holdings in Madison Square Garden Entertainment by 5.8% during the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company's stock worth $267,000 after buying an additional 426 shares during the period. 96.86% of the stock is currently owned by institutional investors.

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 that occurred on Monday, September 30th. The stock was sold at an average price of $42.43, for a total value 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 $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 17.85% of the company's stock.

Madison Square Garden Entertainment Price Performance

MSGE traded down $0.59 on Friday, hitting $34.37. 194,250 shares of the stock were exchanged, compared to its average volume of 406,036. Madison Square Garden Entertainment Corp. has a 12 month low of $30.10 and a 12 month high of $44.14. The business has a 50-day moving average of $39.40 and a two-hundred day moving average of $38.45. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 3.20 and a beta of -0.04.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted 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 firm had revenue of $138.70 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.73) earnings per share. Equities research analysts expect that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MSGE shares. Morgan Stanley decreased their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Guggenheim reduced their price objective 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. Macquarie dropped their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Finally, 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 report on Monday, August 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.