Maverick Capital Ltd. Grows Holdings in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Maverick Capital Ltd. significantly increased its stake in Madison Square Garden Entertainment Corp. by 119.7%, acquiring an additional 9,808 shares, bringing its total holdings to 18,003 shares worth approximately $589,000.
• Madison Square Garden Entertainment's stock is currently valued at $40.63 with a 52-week range between $28.29 and $44.14, and it has reported a negative return on equity of 458.14%.
• Equities analysts have mixed opinions on MSGE; while some have given it a buy rating, others have downgraded it to a sell, reflecting varying perspectives on its current market performance.

Maverick Capital Ltd. grew its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 119.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,003 shares of the company's stock after acquiring an additional 9,808 shares during the period. Maverick Capital Ltd.'s holdings in Madison Square Garden Entertainment were worth $589,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised 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 acquiring an additional 4,573 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Madison Square Garden Entertainment by 14.9% in the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company's stock valued at $32,164,000 after buying an additional 127,700 shares during the period. Systematic Financial Management LP lifted its holdings in Madison Square Garden Entertainment by 0.4% in the first quarter. Systematic Financial Management LP now owns 923,407 shares of the company's stock valued at $30,232,000 after buying an additional 3,930 shares during the period. Northern Trust Corp lifted its holdings in Madison Square Garden Entertainment by 30.0% in the first quarter. Northern Trust Corp now owns 670,883 shares of the company's stock valued at $21,965,000 after buying an additional 154,888 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Madison Square Garden Entertainment by 1.5% in the fourth quarter. Bank of America Corp DE now owns 585,638 shares of the company's stock valued at $20,849,000 after buying an additional 8,592 shares during the period. Institutional investors own 96.86% of the company's stock.

Wall Street Analyst Weigh In

MSGE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price 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 downgraded shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Madison Square Garden Entertainment Stock Up 0.9%

Shares of NYSE:MSGE traded up $0.37 during midday trading on Friday, hitting $40.84. 224,848 shares of the company's stock were exchanged, compared to its average volume of 374,610. 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 stock has a 50 day moving average price of $39.08 and a 200-day moving average price of $36.17. The company has a market cap of $1.94 billion, a PE ratio of 53.73 and a beta of 0.44. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $44.14.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.03). The business 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 period in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

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.