Madison Square Garden Entertainment (NYSE:MSGE) Hits New 1-Year High - Time to 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.

Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Get Free Report) hit a new 52-week high 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Madison Square Garden Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Morgan Stanley increased their price target on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Madison Square Garden Entertainment Stock Performance

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 company has a market cap of $2.07 billion, a price-to-earnings ratio of 57.51 and a beta of 0.44. The company has a fifty day moving average of $39.33 and a two-hundred day moving average of $36.33.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.50) earnings per share 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 firm had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. During the same period last year, the business earned $1.41 EPS. The company's revenue was down 17.2% compared to the same quarter last year. Equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in Madison Square Garden Entertainment during the 1st quarter worth about $31,000. CWM LLC lifted its holdings in Madison Square Garden Entertainment by 623.8% during the 2nd quarter. CWM LLC now owns 1,035 shares of the company's stock worth $41,000 after buying an additional 892 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in Madison Square Garden Entertainment by 163.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company's stock worth $43,000 after buying an additional 673 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Madison Square Garden Entertainment during the 1st quarter worth about $40,000. Finally, NBC Securities Inc. lifted its holdings in Madison Square Garden Entertainment by 136,900.0% during 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 during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

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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