Nuveen LLC Purchases Shares of 154,405 Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Nuveen LLC has acquired a stake of 154,405 shares in Madison Square Garden Entertainment Corp. valued at approximately $5,055,000, representing about 0.38% of the company.
• Shares of Madison Square Garden Entertainment opened at $39.89, with a 12-month range between $28.29 and $44.14, and it has a market capitalization of $1.89 billion.
• The company's recent earnings report indicated a loss of ($0.50) EPS, missing estimates, with a revenue decline of 17.2% year-over-year.

Nuveen LLC bought a new position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 154,405 shares of the company's stock, valued at approximately $5,055,000. Nuveen LLC owned approximately 0.38% of Madison Square Garden Entertainment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. KBC Group NV purchased a new stake in shares of Madison Square Garden Entertainment in the 1st quarter worth approximately $31,000. NBC Securities Inc. raised its stake in Madison Square Garden Entertainment by 136,900.0% in the first quarter. NBC Securities Inc. now owns 1,370 shares of the company's stock worth $44,000 after buying an additional 1,369 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 worth $86,000 after buying an additional 504 shares during the period. GAMMA Investing LLC lifted its holdings in Madison Square Garden Entertainment by 1,632.3% during the first quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock worth $82,000 after buying an additional 2,530 shares during the period. Finally, US Bancorp DE boosted its position in Madison Square Garden Entertainment by 2,273.6% during the 1st quarter. US Bancorp DE now owns 3,869 shares of the company's stock valued at $127,000 after acquiring an additional 3,706 shares in the last quarter. Institutional investors own 96.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MSGE. Morgan Stanley boosted their price target on 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. Wall Street Zen downgraded Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, The Goldman Sachs Group increased their price target on shares of 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Madison Square Garden Entertainment Stock Down 0.7%

Shares of MSGE traded down $0.27 during midday trading on Monday, hitting $40.63. 375,045 shares of the company's stock traded hands, compared to its average volume of 355,824. 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 stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 53.47 and a beta of 0.44. Madison Square Garden Entertainment Corp. has a 1 year low of $28.29 and a 1 year high of $44.14. The firm's fifty day moving average is $39.07 and its 200-day moving average is $36.07.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share 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 for the quarter, compared to analysts' expectations of $151.17 million. During the same quarter last year, the firm earned $1.41 earnings per share. The firm's quarterly revenue was down 17.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current year.

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.