Assenagon Asset Management S.A. Buys 840,631 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Assenagon Asset Management S.A. raised its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 1,425.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899,614 shares of the company's stock after buying an additional 840,631 shares during the quarter. Assenagon Asset Management S.A. owned about 2.19% of Madison Square Garden Entertainment worth $38,261,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in Madison Square Garden Entertainment by 1,838.2% during the 1st quarter. Quent Capital LLC now owns 659 shares of the company's stock valued at $26,000 after buying an additional 625 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Madison Square Garden Entertainment during the 1st quarter valued at approximately $205,000. DekaBank Deutsche Girozentrale grew its holdings in Madison Square Garden Entertainment by 101.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company's stock valued at $207,000 after buying an additional 2,639 shares in the last quarter. OFI Invest Asset Management purchased a new position in Madison Square Garden Entertainment during the 2nd quarter valued at approximately $251,000. Finally, Marshall Wace LLP grew 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 valued at $267,000 after buying an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Trading Up 0.2 %

Shares of MSGE stock traded up $0.10 on Friday, reaching $42.19. 113,630 shares of the company's stock were exchanged, compared to its average volume of 399,826. Madison Square Garden Entertainment Corp. has a 52 week low of $27.55 and a 52 week high of $44.04. The stock has a market capitalization of $1.74 billion, a PE ratio of 13.75, a P/E/G ratio of 3.66 and a beta of 0.13. The company's fifty day simple moving average is $41.60 and its 200 day simple moving average is $38.46.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings results on Friday, August 16th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. The firm had revenue of $186.10 million during the quarter, compared to analyst estimates of $173.26 million. During the same period last year, the company earned ($0.47) EPS. Madison Square Garden Entertainment's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, sell-side analysts predict that Madison Square Garden Entertainment Corp. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on MSGE shares. Morgan Stanley lifted their target price on Madison Square Garden Entertainment from $42.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. Macquarie lifted their target price on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. 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. Finally, The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $41.00 to $45.00 in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.20.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D'ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction on Monday, September 30th. The stock was 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 directly owns 12,192 shares of the company's stock, valued at $517,306.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.72% of the stock is currently 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.