Madison Square Garden Entertainment (NYSE:MSGE) Price Target Lowered to $44.00 at Morgan Stanley

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) had its price objective decreased by research analysts at Morgan Stanley from $45.00 to $44.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 14.11% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a "neutral" rating to a "buy" rating and increased their target price for the stock from $41.00 to $45.00 in a research report on Wednesday, July 24th. Bank of America boosted their price objective on shares of 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. Finally, Macquarie upped their price objective on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd.

Madison Square Garden Entertainment Stock Down 1.5 %

MSGE traded down $0.59 during midday trading on Monday, reaching $38.56. 543,074 shares of the company's stock were exchanged, compared to its average volume of 397,927. Madison Square Garden Entertainment has a one year low of $28.54 and a one year high of $44.14. The business has a 50-day simple moving average of $41.65 and a two-hundred day simple moving average of $38.67. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 3.39 and a beta of 0.17.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.38. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The business had revenue of $138.70 million for the quarter, compared to analyst estimates of $139.46 million. During the same quarter last year, the firm earned ($0.73) EPS. Madison Square Garden Entertainment's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Madison Square Garden Entertainment will post 1.66 EPS for the current fiscal year.

Insider Transactions at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the 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 sale, the executive vice president now directly owns 12,192 shares of the company's stock, valued at approximately $517,306.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.72% of the company's stock.

Institutional Trading of Madison Square Garden Entertainment

Institutional investors have recently added to or reduced their stakes in the business. 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. DekaBank Deutsche Girozentrale boosted its position in shares of Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company's stock worth $207,000 after purchasing an additional 2,639 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Madison Square Garden Entertainment during the 2nd quarter worth $251,000. Cannon Global Investment Management LLC acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth $259,000. Finally, Marshall Wace LLP lifted its position in shares of Madison Square Garden Entertainment by 5.8% in the second quarter. Marshall Wace LLP now owns 7,800 shares of the company's stock worth $267,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 96.86% of the company's stock.

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.