Envestnet Asset Management Inc. Invests $1.33 Million in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Key Points

• Envestnet Asset Management Inc. has invested $1.33 million in Madison Square Garden Entertainment Corp. by acquiring 40,754 shares, representing a 0.10% ownership stake.
• Multiple institutional investors, including Ariel Investments and Alliancebernstein, have notably increased their stakes in Madison Square Garden Entertainment, demonstrating strong investor interest.
• Analyst ratings for Madison Square Garden Entertainment have improved, with Goldman Sachs raising their price target from $36.00 to $41.00 and affirming a "buy" rating.

Envestnet Asset Management Inc. acquired a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 40,754 shares of the company's stock, valued at approximately $1,334,000. Envestnet Asset Management Inc. owned about 0.10% of Madison Square Garden Entertainment at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MSGE. KBC Group NV bought a new stake in shares of Madison Square Garden Entertainment during the 1st quarter valued at $31,000. Sterling Capital Management LLC raised its position in shares of Madison Square Garden Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after acquiring an additional 1,005 shares during the last quarter. NBC Securities Inc. raised its position in shares of Madison Square Garden Entertainment by 136,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company's stock valued at $44,000 after acquiring an additional 1,369 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Madison Square Garden Entertainment by 1,632.3% in the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock valued at $82,000 after buying an additional 2,530 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Madison Square Garden Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after buying an additional 504 shares in the last quarter. Institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Stock Down 2.5%

NYSE MSGE traded down $0.93 on Friday, reaching $36.86. The company had a trading volume of 289,531 shares, compared to its average volume of 274,238. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.45 and a beta of 0.44. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.57 and a current ratio of 0.57. Madison Square Garden Entertainment Corp. has a 1-year low of $28.29 and a 1-year high of $44.14. The company's fifty day moving average is $38.60 and its 200-day moving average is $35.77.

Wall Street Analyst Weigh In

A number of research firms recently commented on MSGE. Susquehanna began coverage on shares of Madison Square Garden Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $39.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of 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.

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.