Madison Square Garden Entertainment (NYSE:MSGE) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Madison Square Garden Entertainment (NYSE: MSGE) from buy to hold, adding to a mixed analyst picture that still averages a Moderate Buy rating with a $64.33 price target.
• Latest earnings were mixed: MSGE reported $0.11 EPS, missing the $0.14 consensus, while revenue of $246.26 million slightly beat estimates and rose 1.5% year over year.
• Operational catalysts remain in focus, including a new multi-year partnership with Kalshi at The Garden and management’s expectation for stronger concert activity, supported by Harry Styles’ 30-night residency.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

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

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE opened at $64.90 on Friday. Madison Square Garden Entertainment has a twelve month low of $35.31 and a twelve month high of $69.86. The firm has a market cap of $2.62 billion, a PE ratio of 63.63 and a beta of 0.61. 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 business has a fifty day moving average of $60.38 and a 200-day moving average of $55.98.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.03). The business had revenue of $246.26 million during the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a negative return on equity of 410.69%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities research analysts predict that Madison Square Garden Entertainment will post 1.16 EPS for the current fiscal year.

Insider Transactions at Madison Square Garden Entertainment

In related news, Director Charles P. Dolan sold 19,311 shares of the firm's stock in a transaction dated 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 transaction, the director owned 660 shares in the company, valued at $42,081.60. This trade represents a 96.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSGE. Jericho Capital Asset Management L.P. boosted its holdings in Madison Square Garden Entertainment by 26.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,662,724 shares of the company's stock worth $197,384,000 after buying an additional 777,000 shares during the last quarter. Millennium Management LLC boosted its holdings in Madison Square Garden Entertainment by 2,037.6% during the third quarter. Millennium Management LLC now owns 589,096 shares of the company's stock worth $26,651,000 after buying an additional 561,537 shares during the last quarter. Bank of America Corp DE boosted its holdings in Madison Square Garden Entertainment by 324.8% during the second quarter. Bank of America Corp DE now owns 667,248 shares of the company's stock worth $26,670,000 after buying an additional 510,191 shares during the last quarter. Nuveen LLC boosted its holdings in Madison Square Garden Entertainment by 86.4% during the fourth quarter. Nuveen LLC now owns 724,467 shares of the company's stock worth $39,042,000 after buying an additional 335,890 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Madison Square Garden Entertainment during the fourth quarter worth about $13,473,000. Institutional investors own 96.86% of the company's stock.

Madison Square Garden Entertainment News Roundup

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

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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