PDT Partners LLC Has $323,000 Position in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

PDT Partners LLC reduced its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 84.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,591 shares of the company's stock after selling 41,030 shares during the quarter. PDT Partners LLC's holdings in Madison Square Garden Entertainment were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in 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 during the 2nd quarter valued at $1,494,000. Bank of New York Mellon Corp lifted its position 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 valued at $5,719,000 after acquiring an additional 17,793 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter valued at $1,005,000. Finally, Renaissance Technologies LLC lifted its position in shares of Madison Square Garden Entertainment by 182.5% during 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 during the last quarter. 96.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Guggenheim cut their price objective on Madison Square Garden Entertainment from $49.00 to $48.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Bank of America increased their target price on Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a "buy" rating in a report on Monday, August 19th. Morgan Stanley reduced their target price on Madison Square Garden Entertainment from $45.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Finally, Macquarie reduced their target price on Madison Square Garden Entertainment from $47.00 to $45.00 and set an "outperform" rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.00.

Insider Buying and Selling

In other Madison Square Garden Entertainment news, EVP Philip Gerard D'ambrosio sold 6,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company's stock, valued at $517,306.56. This represents a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.85% of the stock is owned by corporate insiders.

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE traded down $0.21 during midday trading on Wednesday, hitting $38.66. 594,562 shares of the stock were exchanged, compared to its average volume of 406,648. Madison Square Garden Entertainment Corp. has a 52-week low of $30.00 and a 52-week high of $44.14. The business's fifty day simple moving average is $40.23 and its two-hundred day simple moving average is $38.46. The company has a market capitalization of $1.86 billion, a PE ratio of 10.56, a P/E/G ratio of 3.34 and a beta of -0.04.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 261.70% and a net margin of 18.38%. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $139.46 million. During the same period last year, the company earned ($0.73) earnings per share. Madison Square Garden Entertainment's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current 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.