Madison Square Garden Entertainment Corp. $MSGE Shares Purchased by Dendur Capital LP

Dendur Capital LP boosted its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 60.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 925,500 shares of the company’s stock after purchasing an additional 347,500 shares during the period. Madison Square Garden Entertainment comprises approximately 3.3% of Dendur Capital LP’s portfolio, making the stock its 12th largest position. Dendur Capital LP owned 2.28% of Madison Square Garden Entertainment worth $36,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Madison Square Garden Entertainment by 623.8% during the second 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 stake 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 acquiring an additional 673 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Madison Square Garden Entertainment during the 1st quarter valued at about $40,000. KBC Group NV grew its position in Madison Square Garden Entertainment by 80.1% in the 2nd quarter. KBC Group NV now owns 1,688 shares of the company’s stock valued at $67,000 after acquiring an additional 751 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Madison Square Garden Entertainment by 25.3% during the second quarter. Nisa Investment Advisors LLC now owns 2,217 shares of the company’s stock worth $89,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MSGE. Morgan Stanley raised their price objective on shares of 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. The Goldman Sachs Group raised their price target on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price objective on Madison Square Garden Entertainment from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Wall Street Zen upgraded Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Madison Square Garden Entertainment in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Madison Square Garden Entertainment Price Performance

Madison Square Garden Entertainment stock opened at $52.98 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 60.61. The company has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $42.14. The stock has a market cap of $2.14 billion, a P/E ratio of 75.68 and a beta of 0.43. Madison Square Garden Entertainment Corp. has a 12-month low of $28.29 and a 12-month high of $53.62.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.13. The company had revenue of $158.26 million for the quarter, compared to analysts’ expectations of $156.62 million. Madison Square Garden Entertainment had a negative return on equity of 310.15% and a net margin of 3.65%.Madison Square Garden Entertainment’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Equities analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 EPS for the current fiscal year.

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.