Gamco Investors INC. ET AL Reduces Holdings in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Gamco Investors INC. ET AL has reduced its holdings in Madison Square Garden Entertainment Corp. by 3.3%, now owning approximately 1.66% of the company's stock valued at $22.1 million.
• Several large investors, including KBC Group NV and BI Asset Management, have recently increased their stakes in Madison Square Garden Entertainment, indicating considerable interest from institutional investors.
• Madison Square Garden Entertainment reported a loss of ($0.50) earnings per share for the last quarter, missing analysts' expectations, with a revenue decline of 17.2% year-over-year.

Gamco Investors INC. ET AL lowered its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 675,431 shares of the company's stock after selling 23,026 shares during the period. Gamco Investors INC. ET AL owned about 1.66% of Madison Square Garden Entertainment worth $22,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MSGE. Barclays PLC increased its stake in shares of Madison Square Garden Entertainment by 3.2% during the fourth quarter. Barclays PLC now owns 68,174 shares of the company's stock valued at $2,427,000 after buying an additional 2,129 shares during the period. Mariner LLC increased its stake in shares of Madison Square Garden Entertainment by 37.8% during the fourth quarter. Mariner LLC now owns 11,907 shares of the company's stock valued at $424,000 after buying an additional 3,266 shares during the period. First Trust Advisors LP increased its stake in shares of Madison Square Garden Entertainment by 43.4% during the fourth quarter. First Trust Advisors LP now owns 115,039 shares of the company's stock valued at $4,095,000 after buying an additional 34,821 shares during the period. Dimensional Fund Advisors LP increased its stake 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 valued at $36,265,000 after buying an additional 4,573 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Madison Square Garden Entertainment by 4.8% during the fourth quarter. MetLife Investment Management LLC now owns 23,940 shares of the company's stock valued at $852,000 after buying an additional 1,107 shares during the period. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Stock Down 0.7%

NYSE MSGE traded down $0.27 during trading on Friday, hitting $40.63. The company's stock had a trading volume of 375,045 shares, compared to its average volume of 351,549. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $1.93 billion, a PE ratio of 41.31 and a beta of 0.44. The business's 50 day simple moving average is $39.03 and its 200-day simple moving average is $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.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen lowered Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Morgan Stanley raised their price objective 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 raised 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Madison Square Garden Entertainment has an average rating of "Moderate Buy" and a consensus price target 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.