Vanguard Group Inc. Sells 57,986 Shares of Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Vanguard trimmed its MSGE stake slightly in the fourth quarter, selling 57,986 shares and leaving it with 3.81 million shares worth about $205.6 million, or roughly 9.45% of the company.
• Analyst sentiment remains mixed but generally constructive, with recent moves including BTIG raising its target to $86 and reaffirming a buy rating, while JPMorgan lifted its target to $67 but stayed neutral. The consensus rating remains Moderate Buy with an average price target of $64.33.
• Recent earnings were mixed: MSGE reported $0.11 EPS, below the $0.14 estimate, though revenue of $246.26 million slightly beat expectations and rose 1.5% year over year. The stock also closed near the upper end of its 52-week range after falling 2.8% in trading.

Vanguard Group Inc. cut its position in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,814,622 shares of the company's stock after selling 57,986 shares during the quarter. Vanguard Group Inc. owned approximately 9.45% of Madison Square Garden Entertainment worth $205,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Madison Square Garden Entertainment by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company's stock worth $775,000 after acquiring an additional 1,193 shares during the last quarter. Millennium Management LLC bought a new position in Madison Square Garden Entertainment during the 1st quarter worth approximately $4,994,000. Dynamic Technology Lab Private Ltd bought a new position in Madison Square Garden Entertainment during the 1st quarter worth approximately $210,000. Jane Street Group LLC bought a new position in Madison Square Garden Entertainment during the 1st quarter worth approximately $1,468,000. Finally, JPMorgan Chase & Co. grew its position in Madison Square Garden Entertainment by 53.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company's stock worth $4,089,000 after acquiring an additional 35,678 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSGE has been the topic of several recent research reports. Wall Street Zen lowered Madison Square Garden Entertainment from a "buy" rating to a "hold" rating in a research report on Saturday. Guggenheim raised their price target on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Weiss Ratings lowered Madison Square Garden Entertainment from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday. Finally, BTIG Research increased their price objective on Madison Square Garden Entertainment from $70.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.33.

Madison Square Garden Entertainment Trading Down 2.8%

NYSE MSGE opened at $64.90 on Friday. Madison Square Garden Entertainment Corp. has a fifty-two week low of $35.31 and a fifty-two week high of $69.86. The company has a debt-to-equity ratio of 15.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day simple moving average of $60.38 and a two-hundred day simple moving average of $55.98. The stock has a market cap of $2.62 billion, a P/E ratio of 63.63 and a beta of 0.61.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 410.69% and a net margin of 4.81%.The business had revenue of $246.26 million during the quarter, compared to analysts' expectations of $242.99 million. During the same quarter last year, the business posted $0.17 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts forecast that Madison Square Garden Entertainment Corp. will post 1.13 earnings per share for the current year.

Key Headlines Impacting Madison Square Garden Entertainment

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: BTIG Research raised its price target on MSGE to $86 from $70 and reiterated a buy rating, signaling more upside potential for the stock. BTIG price target raise via Benzinga
• Positive Sentiment: Madison Square Garden Entertainment announced a new multi-year partnership with Kalshi, naming it an official prediction market partner of The Garden and renaming part of the venue the Kalshi Concourse, which could add sponsorship and branding revenue. Kalshi partnership announcement
• Positive Sentiment: Management highlighted stronger concert activity at The Garden, with expectations for a significant fiscal fourth-quarter increase in concerts and support from Harry Styles’ 30-night residency, which points to healthy near-term venue demand. Concert boom and residency outlook
• Neutral Sentiment: JPMorgan raised its price target to $67 from $63 but kept a neutral rating, suggesting valuation is more balanced despite modest upside from current levels. JPMorgan price target update
• Negative Sentiment: Fiscal third-quarter earnings came in below estimates at $0.11 per share versus the expected $0.14, which may temper enthusiasm despite revenue slightly topping forecasts. Q3 earnings results

Insiders Place Their Bets

In other Madison Square Garden Entertainment news, Director Charles P. Dolan sold 19,311 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.76, for a total value of $1,231,269.36. Following the completion of the sale, the director owned 660 shares in the company, valued at approximately $42,081.60. This trade represents a 96.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.41% of the company's stock.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. NYSE: MSGE is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company's core business activities center on venue management, event promotion and production services.

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