Infrastructure Capital Advisors LLC Buys Shares of 1,300 Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Infrastructure Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,300 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avion Wealth bought a new position in shares of Madison Square Garden Entertainment in the second quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Madison Square Garden Entertainment during the 2nd quarter worth $25,000. Sargent Bickham Lagudis LLC lifted its position in Madison Square Garden Entertainment by 100.0% during the 1st quarter. Sargent Bickham Lagudis LLC now owns 600 shares of the company’s stock worth $49,000 after acquiring an additional 300 shares during the last quarter. Alaethes Wealth LLC acquired a new position in shares of Madison Square Garden Entertainment during the second quarter valued at about $49,000. Finally, Captrust Financial Advisors raised its position in shares of Madison Square Garden Entertainment by 103.9% during the first quarter. Captrust Financial Advisors now owns 844 shares of the company’s stock valued at $69,000 after buying an additional 430 shares during the last quarter. 73.10% of the stock is currently owned by institutional investors.

Shares of NYSE MSGE traded up $2.26 during mid-day trading on Thursday, reaching $71.20. 4,390 shares of the company were exchanged, compared to its average volume of 345,158. The company’s 50-day simple moving average is $73.81 and its 200-day simple moving average is $80.99. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.42 billion, a P/E ratio of -4.10 and a beta of 1.59. Madison Square Garden Entertainment Corp. has a twelve month low of $60.26 and a twelve month high of $121.42.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Sunday, August 22nd. The company reported ($4.87) earnings per share for the quarter, missing the consensus estimate of ($3.06) by ($1.81). The business had revenue of $99.80 million during the quarter, compared to analyst estimates of $70.76 million. Madison Square Garden Entertainment had a negative return on equity of 14.98% and a negative net margin of 228.43%. Madison Square Garden Entertainment’s revenue for the quarter was up 1008.9% compared to the same quarter last year. During the same quarter last year, the firm earned $5.26 EPS. As a group, equities research analysts expect that Madison Square Garden Entertainment Corp. will post 1.23 EPS for the current year.

In other Madison Square Garden Entertainment news, SVP Joseph F. Yospe sold 3,052 shares of the business’s stock in a transaction on Friday, September 24th. The shares were sold at an average price of $80.09, for a total transaction of $244,434.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.73% of the stock is owned by insiders.

Several brokerages have weighed in on MSGE. Morgan Stanley reaffirmed a “sell” rating and set a $65.00 price objective on shares of Madison Square Garden Entertainment in a research note on Tuesday, August 24th. Zacks Investment Research lowered shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, October 9th. Finally, Wolfe Research downgraded shares of Madison Square Garden Entertainment from an “outperform” rating to a “market perform” rating and set a $96.00 price objective for the company. in a research report on Thursday, June 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.20.

Madison Square Garden Entertainment Profile

Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball, professional bull riding, mixed martial arts, and esports in its venues, including New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.

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Institutional Ownership by Quarter for Madison Square Garden Entertainment (NYSE:MSGE)

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