Public Employees Retirement System of Ohio Has $47,000 Stock Holdings in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• The Public Employees Retirement System of Ohio significantly reduced its stake in Madison Square Garden Entertainment Corp. by 92.9% in the second quarter, now holding only 1,170 shares valued at $47,000.
• Several large investors, including KBC Group NV and SG Americas Securities LLC, have recently entered or increased their stakes in Madison Square Garden Entertainment, reflecting a growing interest from institutional investors.
• Analyst ratings for Madison Square Garden Entertainment are mixed, with Goldman Sachs upgrading the stock to a "buy" and raising the price target to $52, while Wall Street Zen downgraded it to a "sell."

Public Employees Retirement System of Ohio cut its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 92.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,170 shares of the company's stock after selling 15,225 shares during the period. Public Employees Retirement System of Ohio's holdings in Madison Square Garden Entertainment were worth $47,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $31,000. SG Americas Securities LLC acquired a new stake in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $556,000. Maverick Capital Ltd. lifted its position in Madison Square Garden Entertainment by 119.7% in the 1st quarter. Maverick Capital Ltd. now owns 18,003 shares of the company's stock valued at $589,000 after acquiring an additional 9,808 shares in the last quarter. Northern Trust Corp lifted its position in Madison Square Garden Entertainment by 30.0% in the 1st quarter. Northern Trust Corp now owns 670,883 shares of the company's stock valued at $21,965,000 after acquiring an additional 154,888 shares in the last quarter. Finally, Nuveen LLC bought a new position in Madison Square Garden Entertainment in the 1st quarter valued at about $5,055,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSGE has been the topic of several recent research reports. 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Madison Square Garden Entertainment in a research report on Saturday, September 27th. The Goldman Sachs Group raised their price target on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Finally, Morgan Stanley raised 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 research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.20.

Madison Square Garden Entertainment Price Performance

Madison Square Garden Entertainment stock opened at $43.46 on Wednesday. Madison Square Garden Entertainment Corp. has a 52 week low of $28.29 and a 52 week high of $48.09. The company's 50 day moving average price is $41.39 and its two-hundred day moving average price is $37.91. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61. The stock has a market cap of $2.06 billion, a P/E ratio of 57.18 and a beta of 0.49.

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 firm 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%.Madison Square Garden Entertainment's quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. On average, equities analysts predict 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.

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