189,800 Shares in Madison Square Garden Entertainment Corp. $MSGE Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 189,800 shares of the company's stock, valued at approximately $11,181,000. Renaissance Technologies LLC owned 0.47% of Madison Square Garden Entertainment as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Madison Square Garden Entertainment by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company's stock worth $775,000 after buying an additional 1,193 shares during the period. Millennium Management LLC purchased a new stake in Madison Square Garden Entertainment during the 1st quarter worth $4,994,000. Dynamic Technology Lab Private Ltd purchased a new stake in Madison Square Garden Entertainment during the 1st quarter worth $210,000. Jane Street Group LLC acquired a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $1,468,000. Finally, JPMorgan Chase & Co. increased its holdings in Madison Square Garden Entertainment by 53.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company's stock valued at $4,089,000 after purchasing an additional 35,678 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on MSGE. BTIG Research reissued a "buy" rating on shares of Madison Square Garden Entertainment in a research report on Thursday, May 21st. Morgan Stanley upped their target price on Madison Square Garden Entertainment from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered Madison Square Garden Entertainment from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Seaport Research Partners reiterated a "neutral" rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th. Finally, Guggenheim boosted their price target on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.83.

Madison Square Garden Entertainment Stock Performance

NYSE:MSGE opened at $77.15 on Friday. The firm has a 50-day moving average of $74.94 and a two-hundred day moving average of $66.10. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $3.12 billion, a P/E ratio of 75.64 and a beta of 0.54. Madison Square Garden Entertainment Corp. has a 1-year low of $35.31 and a 1-year high of $82.79.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The business had revenue of $246.26 million for the quarter, compared to analysts' expectations of $242.99 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that Madison Square Garden Entertainment Corp. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madison Square Garden Entertainment news, EVP Philip Gerard D'ambrosio sold 9,907 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $74.48, for a total transaction of $737,873.36. Following the completion of the sale, the executive vice president owned 15,772 shares in the company, valued at $1,174,698.56. This trade represents a 38.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.41% of the stock is currently owned by company insiders.

Madison Square Garden Entertainment Profile

Madison Square Garden Entertainment Corp. NYSE: MSGE is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company's core business activities center on venue management, event promotion and production services.

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