Morgan Stanley Issues Positive Forecast for Madison Square Garden Entertainment (NYSE:MSGE) Stock Price

Key Points

• Morgan Stanley raised its target price for Madison Square Garden Entertainment (NYSE:MSGE) from $41.00 to $44.00, indicating a potential upside of 12.84%.
• Other analysts have also expressed optimism, with Susquehanna giving a "positive" rating and a $39.00 target, while Goldman Sachs boosted its target to $41.00 and assigned a "buy" rating.
• Madison Square Garden Entertainment recently saw its stock trading up 2.6%, with 96.86% of shares owned by institutional investors.

Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $41.00 to $44.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 12.84% from the stock's current price.

A number of other research analysts have also commented on the stock. Susquehanna started coverage on shares of Madison Square Garden Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $39.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Madison Square Garden Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Madison Square Garden Entertainment Trading Up 2.6%

Shares of NYSE:MSGE opened at $38.99 on Tuesday. The stock has a market capitalization of $1.58 billion, a PE ratio of 14.23 and a beta of 0.44. Madison Square Garden Entertainment has a 1 year low of $28.29 and a 1 year high of $44.14. The firm has a fifty day moving average price of $38.76 and a 200 day moving average price of $35.87. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 60.61.

Hedge Funds Weigh In On Madison Square Garden Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGE. KBC Group NV bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $31,000. Sterling Capital Management LLC grew its stake in Madison Square Garden Entertainment by 785.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after buying an additional 1,005 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Madison Square Garden Entertainment in the 1st quarter valued at about $40,000. CWM LLC boosted its holdings in Madison Square Garden Entertainment by 623.8% in the 2nd quarter. CWM LLC now owns 1,035 shares of the company's stock valued at $41,000 after purchasing an additional 892 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in Madison Square Garden Entertainment by 163.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company's stock valued at $43,000 after purchasing an additional 673 shares during the period. 96.86% of the stock is owned by institutional investors.

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.

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