Corton Capital Inc. Purchases Shares of 6,653 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Key Points

• Corton Capital Inc. has invested approximately $218,000 in Madison Square Garden Entertainment Corp. by acquiring 6,653 shares, marking a new position in the company.
• Multiple large investors, including Ariel Investments LLC and Vanguard Group Inc., have recently increased their holdings in Madison Square Garden Entertainment, indicating strong institutional interest.
• Analysts have raised their price targets for Madison Square Garden Entertainment, with Goldman Sachs increasing their target from $36.00 to $41.00 and issuing a "buy" rating.

Corton Capital Inc. purchased a new stake in shares of 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 6,653 shares of the company's stock, valued at approximately $218,000.

Several other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Madison Square Garden Entertainment in the fourth quarter worth about $289,000. Vanguard Group Inc. boosted its holdings in Madison Square Garden Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock worth $139,477,000 after acquiring an additional 52,731 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Madison Square Garden Entertainment in the fourth quarter worth about $221,000. JPMorgan Chase & Co. lifted its holdings in shares of Madison Square Garden Entertainment by 77.5% during the fourth quarter. JPMorgan Chase & Co. now owns 139,742 shares of the company's stock worth $4,975,000 after purchasing an additional 61,028 shares during the period. Finally, Norges Bank acquired a new stake in shares of Madison Square Garden Entertainment during the fourth quarter worth about $13,454,000. Hedge funds and other institutional investors own 96.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Susquehanna assumed coverage on Madison Square Garden Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $39.00 price target for the company. The Goldman Sachs Group boosted their price objective on Madison Square Garden Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th.

Madison Square Garden Entertainment Trading Down 0.2%

NYSE MSGE traded down $0.06 on Thursday, reaching $38.02. 114,992 shares of the company were exchanged, compared to its average volume of 334,575. The business's fifty day moving average price is $38.58 and its 200 day moving average price is $35.74. The stock has a market capitalization of $1.54 billion, a P/E ratio of 13.88 and a beta of 0.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 60.61. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $44.14.

About Madison Square Garden Entertainment

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.