Financial Enhancement Group LLC Invests $1.16 Million in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Financial Enhancement Group LLC has made a new investment of approximately $1.16 million in Madison Square Garden Entertainment Corp., acquiring 29,332 shares of the company during the second quarter.
• Analysts have mixed views on Madison Square Garden Entertainment, with Morgan Stanley increasing its target price to $44.00, while Wall Street Zen downgraded its rating to "sell."
• The company reported a quarterly loss of $0.50 EPS, missing estimates, and its revenue decreased by 17.2% year-over-year, raising concerns about its financial performance.

Financial Enhancement Group LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 29,332 shares of the company's stock, valued at approximately $1,158,000. Financial Enhancement Group LLC owned 0.07% of Madison Square Garden Entertainment as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pinnacle Associates Ltd. lifted its holdings in Madison Square Garden Entertainment by 3.2% during the first quarter. Pinnacle Associates Ltd. now owns 12,836 shares of the company's stock worth $420,000 after acquiring an additional 398 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Madison Square Garden Entertainment by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 12,431 shares of the company's stock valued at $443,000 after purchasing an additional 509 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Madison Square Garden Entertainment by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 21,313 shares of the company's stock valued at $698,000 after purchasing an additional 516 shares during the period. Principal Financial Group Inc. increased its stake in Madison Square Garden Entertainment by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 20,713 shares of the company's stock worth $678,000 after purchasing an additional 702 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Madison Square Garden Entertainment during the 1st quarter worth approximately $31,000. Institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Stock Performance

MSGE stock traded up $0.62 during midday trading on Monday, reaching $45.77. 320,752 shares of the company were exchanged, compared to its average volume of 385,763. Madison Square Garden Entertainment Corp. has a one year low of $28.29 and a one year high of $46.18. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 60.22 and a beta of 0.44. The business has a 50-day moving average price of $40.19 and a two-hundred day moving average price of $36.93. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued 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). The firm had revenue of $154.14 million for 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 company's revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. Equities research analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MSGE shares. Wall Street Zen lowered shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Morgan Stanley upped their price objective on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

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.