Healthcare of Ontario Pension Plan Trust Fund Sells 251,900 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 43.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,500 shares of the company's stock after selling 251,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.68% of Madison Square Garden Entertainment worth $13,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new stake in shares of Madison Square Garden Entertainment in the 3rd quarter worth about $788,000. Maverick Capital Ltd. purchased a new stake in Madison Square Garden Entertainment in the second quarter worth about $1,494,000. Bank of New York Mellon Corp boosted its position in Madison Square Garden Entertainment by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 167,073 shares of the company's stock valued at $5,719,000 after acquiring an additional 17,793 shares in the last quarter. Radnor Capital Management LLC purchased a new position in shares of Madison Square Garden Entertainment during the 3rd quarter worth approximately $1,005,000. Finally, Renaissance Technologies LLC raised its position in shares of Madison Square Garden Entertainment by 182.5% in the 2nd quarter. Renaissance Technologies LLC now owns 82,200 shares of the company's stock worth $2,814,000 after acquiring an additional 53,100 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MSGE. Bank of America lifted their price target 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. Macquarie reduced their target price 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. Guggenheim lowered their price target 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. Finally, 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 report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.00.

Insider Activity at Madison Square Garden Entertainment

In other news, EVP Philip Gerard D'ambrosio sold 6,000 shares of Madison Square Garden Entertainment 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 directly owns 12,192 shares in the company, valued at $517,306.56. The trade was a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 17.85% of the stock is currently owned by insiders.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE traded up $0.35 during trading hours on Friday, hitting $36.99. The company had a trading volume of 404,937 shares, compared to its average volume of 402,404. Madison Square Garden Entertainment Corp. has a 52-week low of $29.71 and a 52-week high of $44.14. The firm has a fifty day moving average price of $40.43 and a 200-day moving average price of $38.43. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 3.34 and a beta of 0.17.

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

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.