Voleon Capital Management LP Lowers Holdings in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Voleon Capital Management LP significantly reduced its stake in Madison Square Garden Entertainment by 58.6% in the first quarter, retaining approximately 0.05% of the company's stock valued at $684,000.
• Shares of Madison Square Garden Entertainment experienced a 1.6% decline, trading at $41.43, with its 12-month range between $28.29 and $44.14.
• Analysts have mixed opinions on the stock, with an average rating of "Moderate Buy" and a price target of $43.00, alongside a recent downgrade to "sell" by Wall Street Zen.

Voleon Capital Management LP reduced its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 58.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,887 shares of the company's stock after selling 29,607 shares during the period. Voleon Capital Management LP owned about 0.05% of Madison Square Garden Entertainment worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. KBC Group NV purchased a new stake in shares of Madison Square Garden Entertainment during the 1st quarter valued at $31,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Madison Square Garden Entertainment in the 1st quarter worth $40,000. NBC Securities Inc. grew its holdings in Madison Square Garden Entertainment by 136,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,370 shares of the company's stock worth $44,000 after acquiring an additional 1,369 shares during the last quarter. GAMMA Investing LLC grew its holdings in Madison Square Garden Entertainment by 1,632.3% in the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock worth $82,000 after acquiring an additional 2,530 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Madison Square Garden Entertainment by 2,273.6% in the 1st quarter. US Bancorp DE now owns 3,869 shares of the company's stock worth $127,000 after purchasing an additional 3,706 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE traded up $0.89 during trading on Friday, hitting $44.19. 649,399 shares of the stock traded hands, compared to its average volume of 348,442. The company has a fifty day moving average price of $39.45 and a two-hundred day moving average price of $36.40. Madison Square Garden Entertainment Corp. has a 52-week low of $28.29 and a 52-week high of $44.39. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 58.15 and a beta of 0.44. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61.

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 for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.03). The firm had revenue of $154.14 million during the quarter, compared to analysts' expectations of $151.17 million. Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The company's revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Morgan Stanley upped their price target on shares of 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.