Y Intercept Hong Kong Ltd Has $290,000 Holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Y Intercept Hong Kong Ltd lowered its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 72.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,819 shares of the company's stock after selling 17,897 shares during the period. Y Intercept Hong Kong Ltd's holdings in Madison Square Garden Entertainment were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Zacks Investment Management increased its position in Madison Square Garden Entertainment by 15.3% during the third quarter. Zacks Investment Management now owns 111,687 shares of the company's stock valued at $4,750,000 after acquiring an additional 14,812 shares during the last quarter. State Street Corp boosted its stake in shares of Madison Square Garden Entertainment by 0.4% in the third quarter. State Street Corp now owns 896,795 shares of the company's stock worth $38,141,000 after acquiring an additional 3,463 shares during the period. Systematic Financial Management LP boosted its stake in shares of Madison Square Garden Entertainment by 5.3% in the third quarter. Systematic Financial Management LP now owns 891,493 shares of the company's stock worth $37,915,000 after acquiring an additional 45,261 shares during the period. Centiva Capital LP bought a new position in Madison Square Garden Entertainment during the third quarter valued at approximately $382,000. Finally, ArrowMark Colorado Holdings LLC bought a new position in Madison Square Garden Entertainment during the third quarter valued at approximately $219,000. Hedge funds and other institutional investors own 96.86% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MSGE shares. Guggenheim reduced their price target on Madison Square Garden Entertainment from $49.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Morgan Stanley lowered their price objective on Madison Square Garden Entertainment from $45.00 to $44.00 and set an "equal weight" rating for the company in a research 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 research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Insider Buying and Selling at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D'ambrosio sold 6,000 shares of Madison Square Garden Entertainment stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $42.43, for a total value of $254,580.00. Following the completion of the transaction, the executive vice president now directly owns 12,192 shares of the company's stock, valued at $517,306.56. The trade was 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. Corporate insiders own 17.85% of the company's stock.

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE traded down $1.37 during midday trading on Wednesday, hitting $33.05. 516,758 shares of the company's stock traded hands, compared to its average volume of 406,797. Madison Square Garden Entertainment Corp. has a twelve month low of $30.10 and a twelve month high of $44.14. The company has a market cap of $1.59 billion, a PE ratio of 9.03, a P/E/G ratio of 3.20 and a beta of -0.04. The firm's fifty day moving average price is $39.12 and its two-hundred day moving average price is $38.46.

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 for the quarter, beating analysts' consensus estimates of ($0.79) by $0.39. The business had revenue of $138.70 million during the quarter, compared to the consensus estimate of $139.46 million. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.73) EPS. As a group, equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current fiscal year.

Madison Square Garden Entertainment 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.