Madison Square Garden Entertainment (NYSE:MSGE) Hits New 52-Week High - Should You Buy?

Key Points

• Madison Square Garden Entertainment's stock reached a new 52-week high at $44.23, indicating strong market performance with a recent trading volume of over 101,000 shares.
• Despite the high stock price, analysts have mixed ratings; Wall Street Zen downgraded the stock to "sell," while Morgan Stanley raised its price target to $44 and rated it "equal weight."
• Madison Square Garden reported a net margin of just 3.97% with a loss of $0.50 per share for the last quarter, missing expectations, and experienced a 17.2% year-over-year revenue decline.

Madison Square Garden Entertainment Corp. (NYSE:MSGE - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $44.23 and last traded at $43.44, with a volume of 101447 shares changing hands. The stock had previously closed at $43.30.

Analyst Upgrades and Downgrades

MSGE has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on 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. Wall Street Zen cut 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Madison Square Garden Entertainment Stock Up 1.4%

The stock has a market cap of $2.15 billion, a PE ratio of 59.87 and a beta of 0.44. The firm has a fifty day moving average of $39.69 and a 200 day moving average of $36.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last posted 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). Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The business had revenue of $154.14 million during the quarter, compared to analysts' expectations of $151.17 million. During the same period last year, the company earned $1.41 EPS. The business's quarterly revenue was down 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Several large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its stake in Madison Square Garden Entertainment by 32.0% in the second quarter. Osaic Holdings Inc. now owns 3,138 shares of the company's stock valued at $125,000 after acquiring an additional 760 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in Madison Square Garden Entertainment by 1.9% in the second quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company's stock valued at $906,000 after acquiring an additional 418 shares in the last quarter. State of Wyoming acquired a new position in Madison Square Garden Entertainment in the second quarter valued at $62,000. Caxton Associates LLP acquired a new position in Madison Square Garden Entertainment in the second quarter valued at $294,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Madison Square Garden Entertainment by 84.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,512 shares of the company's stock worth $380,000 after buying an additional 4,363 shares during the period. Institutional investors and hedge funds own 96.86% of the company's stock.

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.