XTX Topco Ltd Makes New $1.21 Million Investment in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Key Points

• XTX Topco Ltd acquired a new stake in Madison Square Garden Entertainment Corp., purchasing 37,066 shares valued at approximately $1.21 million during the first quarter.
• Other institutional investors, including Ariel Investments LLC and Vanguard Group Inc., have increased their stakes in Madison Square Garden Entertainment, collectively owning 96.86% of the company's stock.
• Goldman Sachs raised its target price for Madison Square Garden Entertainment from $36.00 to $41.00, maintaining a "buy" rating for the stock.

XTX Topco Ltd bought a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,066 shares of the company's stock, valued at approximately $1,214,000. XTX Topco Ltd owned approximately 0.09% of Madison Square Garden Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ariel Investments LLC lifted its stake in shares of Madison Square Garden Entertainment by 14.5% in the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company's stock valued at $270,722,000 after purchasing an additional 964,657 shares during the period. Vanguard Group Inc. lifted its stake in shares of Madison Square Garden Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock valued at $139,477,000 after purchasing an additional 52,731 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in shares of Madison Square Garden Entertainment by 10.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company's stock valued at $97,321,000 after purchasing an additional 268,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Madison Square Garden Entertainment by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company's stock valued at $36,265,000 after purchasing an additional 4,573 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Madison Square Garden Entertainment by 14.9% in the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company's stock valued at $32,164,000 after purchasing an additional 127,700 shares during the period. Hedge funds and other institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment Stock Performance

Shares of MSGE opened at $36.86 on Friday. The company has a 50-day moving average of $38.60 and a two-hundred day moving average of $35.77. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 60.61. The stock has a market cap of $1.50 billion, a P/E ratio of 13.45 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.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Susquehanna initiated coverage on shares of Madison Square Garden Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $39.00 target price for the company.

About Madison Square Garden Entertainment

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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