Madison Square Garden Entertainment Corp. (NYSE:MSGE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 182.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,200 shares of the company's stock after acquiring an additional 53,100 shares during the period. Renaissance Technologies LLC owned approximately 0.20% of Madison Square Garden Entertainment worth $2,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Jericho Capital Asset Management L.P. lifted its stake in shares of Madison Square Garden Entertainment by 7.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,465,724 shares of the company's stock worth $96,681,000 after buying an additional 162,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth $23,032,000. Federated Hermes Inc. lifted its stake in shares of Madison Square Garden Entertainment by 48.6% during the second quarter. Federated Hermes Inc. now owns 569,884 shares of the company's stock worth $19,507,000 after buying an additional 186,475 shares during the period. Norges Bank acquired a new stake in shares of Madison Square Garden Entertainment during the fourth quarter worth $14,980,000. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth $13,076,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Entertainment Trading Up 0.9 %

Shares of NYSE MSGE opened at $42.54 on Tuesday. Madison Square Garden Entertainment Corp. has a 12-month low of $27.55 and a 12-month high of $42.99. The stock has a market cap of $1.75 billion, a PE ratio of 36.05, a P/E/G ratio of 3.64 and a beta of 0.13. The company has a 50-day moving average of $39.98 and a 200 day moving average of $38.00.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted its earnings results on Friday, August 16th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of ($0.56) by $1.97. The company had revenue of $186.10 million for the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a net margin of 15.04% and a negative return on equity of 138.81%. Madison Square Garden Entertainment's revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) EPS. On average, sell-side analysts forecast that Madison Square Garden Entertainment Corp. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MSGE has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. The Goldman Sachs Group upgraded shares of Madison Square Garden Entertainment from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $41.00 to $45.00 in a research note on Wednesday, July 24th. Macquarie boosted their target price on shares of Madison Square Garden Entertainment from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Finally, Bank of America boosted 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 report on Monday, August 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.20.

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.