New York State Common Retirement Fund Boosts Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

New York State Common Retirement Fund grew its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 469,261 shares of the company's stock after acquiring an additional 24,644 shares during the quarter. New York State Common Retirement Fund owned about 1.14% of Madison Square Garden Entertainment worth $19,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MSGE. Assenagon Asset Management S.A. increased its stake in Madison Square Garden Entertainment by 1,425.2% during the third quarter. Assenagon Asset Management S.A. now owns 899,614 shares of the company's stock worth $38,261,000 after acquiring an additional 840,631 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Madison Square Garden Entertainment during the 1st quarter valued at approximately $23,032,000. Long Pond Capital LP purchased a new stake in Madison Square Garden Entertainment during the 2nd quarter valued at $12,407,000. Epoch Investment Partners Inc. purchased a new stake in Madison Square Garden Entertainment during the 1st quarter valued at $13,076,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in Madison Square Garden Entertainment by 4,353.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 284,639 shares of the company's stock worth $11,161,000 after buying an additional 278,247 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the business's stock in a transaction dated 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 owns 12,192 shares in the company, valued at approximately $517,306.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MSGE shares. The Goldman Sachs Group raised shares of Madison Square Garden Entertainment from a "neutral" rating to a "buy" rating and increased their target price for the company from $41.00 to $45.00 in a research note on Wednesday, July 24th. Bank of America raised their price objective on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Morgan Stanley increased their price target 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. Finally, Macquarie raised their price target on Madison Square Garden Entertainment from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.20.

Madison Square Garden Entertainment Price Performance

Shares of NYSE:MSGE traded up $1.00 during trading on Tuesday, reaching $41.54. 227,592 shares of the company were exchanged, compared to its average volume of 394,088. The business's fifty day simple moving average is $41.67 and its 200-day simple moving average is $38.59. Madison Square Garden Entertainment Corp. has a 12-month low of $27.55 and a 12-month high of $44.04. The firm has a market capitalization of $1.73 billion, a PE ratio of 13.58, a P/E/G ratio of 3.55 and a beta of 0.17.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its earnings results on Friday, August 16th. The company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $1.97. The business had revenue of $186.10 million during the quarter, compared to analyst estimates of $173.26 million. Madison Square Garden Entertainment had a negative return on equity of 138.81% and a net margin of 15.04%. 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 company posted ($0.47) EPS. On average, sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.66 EPS 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.