Quantbot Technologies LP Invests $876,000 in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Quantbot Technologies LP made a new investment in Madison Square Garden Entertainment Corp. by purchasing 26,758 shares for approximately $876,000 in the first quarter.
• A significant majority, about 96.86%, of Madison Square Garden Entertainment's stock is currently owned by institutional investors and hedge funds.
• The company reported a net margin of 3.97% with revenue down 17.2% year-over-year, indicating challenges despite a slight earnings beat against analyst expectations.

Quantbot Technologies LP acquired a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 26,758 shares of the company's stock, valued at approximately $876,000. Quantbot Technologies LP owned approximately 0.07% of Madison Square Garden Entertainment at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. KBC Group NV purchased a new stake in Madison Square Garden Entertainment during the 1st quarter valued at about $31,000. SG Americas Securities LLC purchased a new stake in Madison Square Garden Entertainment during the 1st quarter valued at about $556,000. Bank of America Corp DE boosted its holdings in Madison Square Garden Entertainment by 1.5% in the 4th quarter. Bank of America Corp DE now owns 585,638 shares of the company's stock valued at $20,849,000 after purchasing an additional 8,592 shares during the last quarter. Deutsche Bank AG boosted its holdings in Madison Square Garden Entertainment by 49.8% in the 4th quarter. Deutsche Bank AG now owns 32,672 shares of the company's stock valued at $1,163,000 after purchasing an additional 10,863 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Madison Square Garden Entertainment by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 20,713 shares of the company's stock valued at $678,000 after purchasing an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Trading Down 0.7%

Shares of MSGE stock traded down $0.27 during trading hours on Friday, hitting $40.63. The company had a trading volume of 375,045 shares, compared to its average volume of 351,549. The company's fifty day moving average is $39.07 and its 200 day moving average is $36.06. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. Madison Square Garden Entertainment Corp. has a fifty-two week low of $28.29 and a fifty-two week high of $44.14. The stock has a market capitalization of $1.93 billion, a PE ratio of 53.47 and a beta of 0.44.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) 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 company had revenue of $154.14 million during the quarter, compared to analyst estimates of $151.17 million. During the same quarter in the prior year, the company posted $1.41 earnings per share. The business's revenue was down 17.2% compared to the same quarter last year. Research analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. 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. Finally, Wall Street Zen lowered shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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.