IMC Chicago LLC Purchases Shares of 40,122 Madison Square Garden Entertainment Corp. $MSGE

Key Points

• IMC Chicago LLC bought a new stake of 40,122 shares in Madison Square Garden Entertainment (≈$2.16M) in Q4, representing about 0.10% of the company, while institutional investors collectively own 96.86% of the stock.
• Director Charles P. Dolan sold 19,311 shares on Feb. 20 at an average price of $63.76 (≈$1.23M), cutting his holding by 96.7%; corporate insiders now own 16.41% of MSGE.
• MSGE reported Q4 EPS of $1.94 (missed $2.35 est.) with revenue of $459.94M (+12.9% YoY); the stock has a $2.74B market cap, a P/E of 62.8, and a MarketBeat consensus of "Moderate Buy" (target ~$61) after several analyst upgrades.

IMC Chicago LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,122 shares of the company's stock, valued at approximately $2,162,000. IMC Chicago LLC owned 0.10% of Madison Square Garden Entertainment as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Horizon Corp bought a new stake in Madison Square Garden Entertainment in the 4th quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC bought a new position in Madison Square Garden Entertainment during the 4th quarter worth about $47,000. State of Alaska Department of Revenue bought a new position in Madison Square Garden Entertainment during the 3rd quarter worth about $59,000. State of Wyoming acquired a new stake in shares of Madison Square Garden Entertainment in the 2nd quarter valued at about $62,000. Finally, CWM LLC lifted its holdings in shares of Madison Square Garden Entertainment by 44.6% in the third quarter. CWM LLC now owns 1,497 shares of the company's stock valued at $68,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 96.86% of the company's stock.

Insider Buying and Selling

In other news, Director Charles P. Dolan sold 19,311 shares of Madison Square Garden Entertainment stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $63.76, for a total value of $1,231,269.36. Following the completion of the transaction, the director owned 660 shares of the company's stock, valued at $42,081.60. This trade represents a 96.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 16.41% of the stock is currently owned by corporate insiders.

Madison Square Garden Entertainment Stock Up 1.4%

MSGE stock opened at $67.83 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 62.80 and a beta of 0.61. Madison Square Garden Entertainment Corp. has a twelve month low of $32.91 and a twelve month high of $68.52. The business has a 50 day moving average price of $60.11 and a two-hundred day moving average price of $55.43. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 15.40.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.35 by ($0.41). Madison Square Garden Entertainment had a net margin of 5.12% and a negative return on equity of 748.04%. The company had revenue of $459.94 million during the quarter, compared to analyst estimates of $448.21 million. During the same period in the previous year, the company posted $1.56 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Madison Square Garden Entertainment in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden Entertainment from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Guggenheim raised their price target on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Madison Square Garden Entertainment from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Finally, BTIG Research began coverage on shares of Madison Square Garden Entertainment in a research report on Tuesday, April 7th. They issued a "buy" rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.00.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. NYSE: MSGE is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company's core business activities center on venue management, event promotion and production services.

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