Walleye Capital LLC Sells 126,856 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Walleye Capital LLC reduced its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 26.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,559 shares of the company's stock after selling 126,856 shares during the period. Walleye Capital LLC owned about 0.73% of Madison Square Garden Entertainment worth $14,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in shares of Madison Square Garden Entertainment during the 3rd quarter valued at $788,000. Maverick Capital Ltd. acquired a new stake in shares of Madison Square Garden Entertainment in the second quarter worth about $1,494,000. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $5,719,000 after acquiring an additional 17,793 shares in the last quarter. Radnor Capital Management LLC acquired a new position in shares of Madison Square Garden Entertainment during the 3rd quarter valued at about $1,005,000. Finally, Renaissance Technologies LLC raised its stake 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 valued at $2,814,000 after acquiring an additional 53,100 shares in the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MSGE. Bank of America raised their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, August 19th. 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 for the company in a research report on Monday, November 11th. Macquarie decreased their target price on 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. Finally, Guggenheim lowered their price target on 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE stock traded up $0.35 during mid-day trading on Friday, reaching $36.99. The company's stock had a trading volume of 533,237 shares, compared to its average volume of 402,404. The firm's 50-day moving average is $40.43 and its two-hundred day moving average is $38.44. Madison Square Garden Entertainment Corp. has a 1-year low of $29.71 and a 1-year high of $44.14. The company has a market cap of $1.78 billion, a P/E ratio of 10.11, a PEG ratio of 3.34 and a beta of 0.17.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted its quarterly 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 firm had revenue of $138.70 million during the quarter, compared to analyst estimates of $139.46 million. During the same quarter in the prior year, the business posted ($0.73) earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current year.

Insider Buying and Selling

In related news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the 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 sale, the executive vice president now owns 12,192 shares in the company, valued at $517,306.56. This trade represents a 32.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.85% of the stock is owned by corporate insiders.

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.