Epoch Investment Partners Inc. Has $1.13 Million Stake in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Epoch Investment Partners Inc. reduced its stake in Madison Square Garden Entertainment Corp. by 42.2% during Q1, owning approximately $1.13 million worth of shares after selling 25,229 shares.
• Analysts are divided on MSGE, with Goldman Sachs raising its price target to $41.00 and giving it a "buy" rating, while Wall Street Zen downgraded it to "sell." The consensus rating remains "Moderate Buy" with a price target of $43.00.
• Madison Square Garden Entertainment's recent earnings report revealed a net loss of $0.50 EPS, missing estimates, along with a 17.2% decline in revenue compared to the same quarter last year.

Epoch Investment Partners Inc. reduced its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 42.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,557 shares of the company's stock after selling 25,229 shares during the period. Epoch Investment Partners Inc. owned about 0.09% of Madison Square Garden Entertainment worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Ariel Investments LLC boosted its position in shares of Madison Square Garden Entertainment by 14.5% during the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company's stock worth $270,722,000 after buying an additional 964,657 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Madison Square Garden Entertainment by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company's stock worth $36,265,000 after buying an additional 4,573 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Madison Square Garden Entertainment by 14.9% during the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company's stock worth $32,164,000 after buying an additional 127,700 shares during the period. Systematic Financial Management LP boosted its position in shares of Madison Square Garden Entertainment by 0.4% during the first quarter. Systematic Financial Management LP now owns 923,407 shares of the company's stock worth $30,232,000 after buying an additional 3,930 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Madison Square Garden Entertainment by 30.0% during the first quarter. Northern Trust Corp now owns 670,883 shares of the company's stock worth $21,965,000 after buying an additional 154,888 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MSGE has been the subject of several recent research reports. Wall Street Zen cut Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Morgan Stanley increased their price target on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group increased their price target 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Madison Square Garden Entertainment Stock Down 0.7%

NYSE MSGE traded down $0.27 during trading hours on Monday, hitting $40.63. 375,045 shares of the company traded hands, compared to its average volume of 355,824. Madison Square Garden Entertainment Corp. has a twelve month low of $28.29 and a twelve month high of $44.14. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 53.47 and a beta of 0.44. The business's 50-day moving average is $39.07 and its 200-day moving average is $36.05. 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 (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share (EPS) 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 business had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. During the same period in the previous year, the business earned $1.41 earnings per share. The business's quarterly revenue was down 17.2% on a year-over-year basis. Sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current year.

Madison Square Garden Entertainment Company 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.