Squarepoint Ops LLC Invests $4.82 Million in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Squarepoint Ops LLC acquired 59,537 MSGE shares valued at approximately $4.82 million, representing about 0.15% of Madison Square Garden Entertainment. Institutional investors and hedge funds collectively own 96.86% of the company.
• Analyst sentiment is generally positive, with MSGE carrying a consensus “Moderate Buy” rating and an average price target of $91.62; Guggenheim recently raised its target to $103.
• Madison Square Garden Entertainment’s latest quarter exceeded expectations, reporting a loss of $0.21 per share versus the projected $0.44 loss and revenue of $196.32 million, up 27.4% year over year.

Squarepoint Ops LLC purchased a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 59,537 shares of the company's stock, valued at approximately $4,816,000. Squarepoint Ops LLC owned approximately 0.15% of Madison Square Garden Entertainment as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MSGE. California State Teachers Retirement System boosted its holdings in Madison Square Garden Entertainment by 7,444.0% during the second quarter. California State Teachers Retirement System now owns 3,486,521 shares of the company's stock worth $282,025,000 after buying an additional 3,440,305 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in Madison Square Garden Entertainment by 26.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,662,724 shares of the company's stock valued at $197,384,000 after buying an additional 777,000 shares in the last quarter. Millennium Management LLC lifted its position in shares of Madison Square Garden Entertainment by 2,037.6% during the 3rd quarter. Millennium Management LLC now owns 589,096 shares of the company's stock valued at $26,651,000 after acquiring an additional 561,537 shares during the period. Bank of America Corp DE lifted its position in shares of Madison Square Garden Entertainment by 324.8% during the 2nd quarter. Bank of America Corp DE now owns 667,248 shares of the company's stock valued at $26,670,000 after acquiring an additional 510,191 shares during the period. Finally, Nuveen LLC lifted its position in shares of Madison Square Garden Entertainment by 86.4% during the 4th quarter. Nuveen LLC now owns 724,467 shares of the company's stock valued at $39,042,000 after acquiring an additional 335,890 shares during the period. Institutional investors and hedge funds own 96.86% of the company's stock.

Analyst Ratings Changes

MSGE has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Madison Square Garden Entertainment in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Madison Square Garden Entertainment from $75.00 to $83.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Madison Square Garden Entertainment from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Guggenheim raised their target price on shares of Madison Square Garden Entertainment from $82.00 to $103.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Madison Square Garden Entertainment from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $91.62.

Madison Square Garden Entertainment Stock Performance

Madison Square Garden Entertainment stock opened at $78.91 on Friday. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $77.92 and a two-hundred day moving average of $70.00. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 57.18 and a beta of 0.56. Madison Square Garden Entertainment Corp. has a fifty-two week low of $41.65 and a fifty-two week high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.23. The business had revenue of $196.32 million for the quarter, compared to the consensus estimate of $166.62 million. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%.The business's revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.57) earnings per share. On average, analysts anticipate that Madison Square Garden Entertainment Corp. will post 2.5 EPS for the current fiscal year.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. is a live entertainment company that owns, operates and produces events at prominent venues in the United States. Its portfolio includes Madison Square Garden and Radio City Music Hall in New York City, as well as the Beacon Theatre in New York and The Chicago Theatre in Illinois.

The company presents concerts, comedy shows, family entertainment, sporting events and other live performances. Its productions include the annual Christmas Spectacular Starring the Radio City Rockettes, along with original entertainment and special events.

Want to see what other hedge funds are holding MSGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.