Jacobs Levy Equity Management Inc. Has $12.64 Million Stock Holdings in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Madison Square Garden Entertainment Corp. by 27.8%, owning 385,979 shares after selling 148,905 shares in the first quarter.
• Analyst reports show a mixed outlook, with Wall Street Zen downgrading the stock to "sell", while Morgan Stanley raised its price target from $41.00 to $44.00.
• Madison Square Garden Entertainment reported a net loss of ($0.50) earnings per share in its latest quarterly results, missing estimates and reflecting a 17.2% year-over-year decline in revenue.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 27.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,979 shares of the company's stock after selling 148,905 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.95% of Madison Square Garden Entertainment worth $12,637,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MSGE. Tower Research Capital LLC TRC boosted its holdings in Madison Square Garden Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after acquiring an additional 504 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Madison Square Garden Entertainment by 9.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,373 shares of the company's stock valued at $1,153,000 after acquiring an additional 2,830 shares during the period. Northern Trust Corp boosted its holdings in Madison Square Garden Entertainment by 9.8% during the fourth quarter. Northern Trust Corp now owns 515,995 shares of the company's stock valued at $18,369,000 after acquiring an additional 45,875 shares during the period. Ameriprise Financial Inc. boosted its holdings in Madison Square Garden Entertainment by 4.3% during the fourth quarter. Ameriprise Financial Inc. now owns 12,431 shares of the company's stock valued at $443,000 after acquiring an additional 509 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Madison Square Garden Entertainment during the fourth quarter valued at about $1,167,000. 96.86% of the stock is currently owned by institutional investors.

Madison Square Garden Entertainment Price Performance

NYSE:MSGE traded up $0.32 during mid-day trading on Friday, hitting $43.62. The company's stock had a trading volume of 169,035 shares, compared to its average volume of 338,388. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $44.23. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 60.61. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 57.53 and a beta of 0.44. The stock has a fifty day moving average of $39.33 and a 200-day moving average of $36.33.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. During the same period last year, the company earned $1.41 EPS. The business's revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities analysts forecast that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on 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 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.