Madison Square Garden Entertainment (NYSE:MSGE) Earns Hold (C-) Rating from Weiss Ratings

Key Points

• Madison Square Garden Entertainment (NYSE:MSGE) received a "hold (C-)" rating from Weiss Ratings, reinforcing its status amidst mixed analyst assessments.
• While Morgan Stanley and Goldman Sachs have raised their price targets for MSGE, reports indicate that the company missed quarterly earnings expectations with a net margin of only 3.97%.
• Institutional investors hold the majority at 96.86% of Madison Square Garden Entertainment's stock, reflecting strong interest despite recent challenges in revenue.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on MSGE. Morgan Stanley raised their price target on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. The Goldman Sachs Group raised their price target on Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Finally, Wall Street Zen lowered Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.20.

Madison Square Garden Entertainment Trading Down 2.0%

Shares of Madison Square Garden Entertainment stock opened at $42.64 on Wednesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 56.11 and a beta of 0.49. Madison Square Garden Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $48.09. The company has a debt-to-equity ratio of 60.61, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average of $41.48 and a 200 day moving average of $37.94.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations 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 company's quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, research analysts predict that Madison Square Garden Entertainment will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Madison Square Garden Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in shares of Madison Square Garden Entertainment by 23.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,033,774 shares of the company's stock valued at $46,768,000 after acquiring an additional 198,361 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in Madison Square Garden Entertainment in the 3rd quarter worth approximately $207,000. Osaic Holdings Inc. lifted its position in Madison Square Garden Entertainment by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 3,138 shares of the company's stock worth $125,000 after buying an additional 760 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Madison Square Garden Entertainment by 1.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company's stock valued at $906,000 after purchasing an additional 418 shares in the last quarter. Finally, State of Wyoming acquired a new position in Madison Square Garden Entertainment in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 96.86% of the company's stock.

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.

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