Walleye Capital LLC Has $5.80 Million Stake in Madison Square Garden Entertainment Corp. $MSGE

Key Points

• Walleye Capital LLC has significantly increased its stake in Madison Square Garden Entertainment Corp., raising its ownership by 77.1% to approximately $5.80 million in the first quarter.
• Madison Square Garden's earnings report revealed a loss of ($0.50) EPS, missing analysts' expectations, while their quarterly revenue was down 17.2% year-over-year.
• Analysts have set a consensus price target of $43.00 for Madison Square Garden Entertainment, with ratings varying from "buy" to "sell" among different firms.

Walleye Capital LLC boosted its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 77.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,085 shares of the company's stock after buying an additional 77,085 shares during the quarter. Walleye Capital LLC owned approximately 0.44% of Madison Square Garden Entertainment worth $5,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGE. KBC Group NV purchased a new stake in Madison Square Garden Entertainment in the 1st quarter worth approximately $31,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madison Square Garden Entertainment in the 1st quarter worth approximately $40,000. NBC Securities Inc. lifted its position in Madison Square Garden Entertainment by 136,900.0% in the 1st 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. GAMMA Investing LLC lifted its position in Madison Square Garden Entertainment by 1,632.3% in the 1st quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock worth $82,000 after buying an additional 2,530 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Madison Square Garden Entertainment by 26.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after purchasing an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised 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 report on Wednesday, May 7th. 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 report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Madison Square Garden Entertainment Stock Performance

MSGE traded down $0.27 during trading on Friday, hitting $40.63. The stock had a trading volume of 375,045 shares, compared to its average volume of 351,549. The firm has a market cap of $1.93 billion, a PE ratio of 53.47 and a beta of 0.44. Madison Square Garden Entertainment Corp. has a 12 month low of $28.29 and a 12 month high of $44.14. 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 company has a 50 day simple moving average of $39.07 and a 200-day simple moving average of $36.06.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced 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 during 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%.The business's revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 EPS. Analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 EPS 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.