Madison Square Garden Entertainment (NYSE:MSGE) Price Target Raised to $83.00

Key Points

• JPMorgan raised MSGE’s price target from $75 to $83 while maintaining a neutral rating; the new target implies 3.89% downside from the stock’s quoted $86.36 price.
• Analyst sentiment remains mixed, with three Buy ratings and five Holds, producing a consensus Hold rating and an average price target of $89.50. Susquehanna was notably more bullish, lifting its target to $103.
• MSGE recently posted strong revenue growth and exceeded quarterly estimates, but it remains unprofitable and highly leveraged. The stock traded near its 12-month high, with a P/E ratio above 84 and debt-to-equity of 11.40.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $75.00 to $83.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 3.89% from the stock's current price.

MSGE has been the subject of a number of other research reports. Seaport Research Partners reissued a "neutral" rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th. Susquehanna increased their price target on shares of Madison Square Garden Entertainment from $80.00 to $103.00 and gave the company a "positive" rating in a report on Thursday. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $82.00 price objective (up from $72.00) on shares of Madison Square Garden Entertainment in a research note on Thursday, July 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Madison Square Garden Entertainment in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.50.

Madison Square Garden Entertainment Price Performance

Shares of Madison Square Garden Entertainment stock traded down $2.06 during trading on Thursday, reaching $86.36. The company's stock had a trading volume of 129,481 shares, compared to its average volume of 401,170. The business has a 50 day moving average price of $76.24 and a 200-day moving average price of $67.26. Madison Square Garden Entertainment has a 12-month low of $35.56 and a 12-month high of $90.41. The company has a market capitalization of $3.49 billion, a P/E ratio of 84.39 and a beta of 0.56. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 11.40.

Insider Activity at Madison Square Garden Entertainment

In related news, EVP Philip Gerard D'ambrosio sold 9,907 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $74.48, for a total transaction of $737,873.36. Following the sale, the executive vice president owned 15,772 shares of the company's stock, valued at $1,174,698.56. This trade represents a 38.58% 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSGE. Jericho Capital Asset Management L.P. raised its position in shares of Madison Square Garden Entertainment by 26.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,662,724 shares of the company's stock valued at $197,384,000 after buying an additional 777,000 shares during the last quarter. Millennium Management LLC grew its stake in Madison Square Garden Entertainment by 2,037.6% in the 3rd quarter. Millennium Management LLC now owns 589,096 shares of the company's stock worth $26,651,000 after acquiring an additional 561,537 shares during the period. Bank of America Corp DE raised its holdings in Madison Square Garden Entertainment by 324.8% in the 2nd quarter. Bank of America Corp DE now owns 667,248 shares of the company's stock valued at $26,670,000 after acquiring an additional 510,191 shares during the last quarter. Nuveen LLC raised its holdings in Madison Square Garden Entertainment by 86.4% in the 4th quarter. Nuveen LLC now owns 724,467 shares of the company's stock valued at $39,042,000 after acquiring an additional 335,890 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Madison Square Garden Entertainment during the 4th quarter worth $13,473,000. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Madison Square Garden Entertainment

Here are the key news stories impacting Madison Square Garden Entertainment this week:

• Positive Sentiment: Strong quarterly beat: MSGE reported fiscal fourth-quarter revenue of approximately $196.3 million, well above the $166.6 million consensus estimate and up 27.4% year over year. Its adjusted loss per share was narrower than expected, with estimates varying by source, improving significantly from the prior-year loss. MarketBeat earnings report
• Positive Sentiment: Record-scale annual results: The company exceeded $1 billion in annual revenue, driven by strong performances from Lady Gaga, the New York Knicks and the Christmas Spectacular. Concert volumes reportedly doubled, reinforcing demand for MSGE’s venues and live-entertainment portfolio. Billboard earnings coverage
• Positive Sentiment: Favorable outlook: Management expects fiscal 2027 revenue and adjusted operating income growth as it schedules more events at its venues and targets approximately $47 million in arena licensing fees. Seeking Alpha outlook report
• Positive Sentiment: Analyst upgrade: Susquehanna raised its MSGE price target from $80 to $103 and assigned a positive rating, citing potential upside from the company’s operating momentum. Benzinga analyst rating
• Negative Sentiment: Profitability remains a risk: Despite beating forecasts, MSGE still reported a quarterly loss. The stock’s elevated valuation and substantial leverage could also limit gains if event demand or earnings growth slows.

Madison Square Garden Entertainment Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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