CW Advisors LLC Makes New Investment in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• CW Advisors LLC acquired 9,324 shares of Madison Square Garden Entertainment Corp. for approximately $305,000 in the first quarter.
• The recent analyst ratings for Madison Square Garden Entertainment show mixed sentiments, with Goldman Sachs raising its price target to $41 and maintaining a "buy" rating, while Wall Street Zen downgraded the stock to a "sell" rating.
• Madison Square Garden Entertainment reported a net loss of $0.50 per share for the quarter, missing estimates, along with a 17.2% year-over-year revenue decline.

CW Advisors LLC acquired a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,324 shares of the company's stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGE. KBC Group NV acquired a new stake in Madison Square Garden Entertainment during the first quarter worth approximately $31,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madison Square Garden Entertainment during the first quarter worth approximately $40,000. NBC Securities Inc. raised 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 worth $44,000 after purchasing an additional 1,369 shares in the last quarter. GAMMA Investing LLC raised 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 worth $82,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised 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 worth $86,000 after purchasing an additional 504 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company's stock.

Madison Square Garden Entertainment Stock Performance

Shares of Madison Square Garden Entertainment stock traded down $0.27 during trading on Friday, reaching $40.63. The company's stock had a trading volume of 375,045 shares, compared to its average volume of 355,824. The company has a 50-day moving average price of $39.07 and a two-hundred day moving average price of $36.06. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $44.14. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. The firm has a market cap of $1.93 billion, a PE ratio of 41.12 and a beta of 0.44.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MSGE shares. The Goldman Sachs Group raised their price objective on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. 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. Finally, Morgan Stanley lifted their target price 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. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

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.