Charles Schwab Investment Management Inc. Sells 10,193 Shares of Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Madison Square Garden Entertainment Corp. by 3.0%, selling 10,193 shares, resulting in ownership of 329,784 shares worth approximately $10.8 million.
• Research analysts have mixed views on MSGE, with Morgan Stanley increasing their price target to $44.00 while Wall Street Zen downgraded their rating from "hold" to "sell."
• Madison Square Garden Entertainment reported a net loss of ($0.50) EPS for the recent quarter, missing analysts' expectations, while revenue fell by 17.2% compared to the previous year.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,784 shares of the company's stock after selling 10,193 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of Madison Square Garden Entertainment worth $10,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV acquired a new position in Madison Square Garden Entertainment during the first quarter valued at approximately $31,000. NBC Securities Inc. grew its holdings in Madison Square Garden Entertainment by 136,900.0% during the first quarter. NBC Securities Inc. now owns 1,370 shares of the company's stock valued at $44,000 after purchasing an additional 1,369 shares during the period. GAMMA Investing LLC grew its holdings in Madison Square Garden Entertainment by 1,632.3% during the first quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock valued at $82,000 after purchasing an additional 2,530 shares during the period. Tower Research Capital LLC TRC grew its holdings in Madison Square Garden Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after purchasing an additional 504 shares during the period. Finally, US Bancorp DE grew its holdings in Madison Square Garden Entertainment by 2,273.6% during the first quarter. US Bancorp DE now owns 3,869 shares of the company's stock valued at $127,000 after purchasing an additional 3,706 shares during the period. 96.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. The Goldman Sachs Group lifted their price target on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Susquehanna initiated coverage on shares of Madison Square Garden Entertainment in a research note on Monday, April 28th. They issued a "positive" rating and a $39.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.00.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $39.2770 on Monday. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.47 and a current ratio of 0.47. Madison Square Garden Entertainment Corp. has a twelve month low of $28.29 and a twelve month high of $44.14. The firm's 50 day moving average price is $38.81 and its two-hundred day moving average price is $35.97. The firm has a market cap of $1.86 billion, a P/E ratio of 51.68 and a beta of 0.44.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.03). The business had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The business's revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Madison Square Garden Entertainment Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.

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