Madison Square Garden Entertainment (NYSE:MSGE) Price Target Raised to $86.00

Madison Square Garden Entertainment (NYSE:MSGE) had its target price hoisted by BTIG Research from $70.00 to $86.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings lowered shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Guggenheim lifted their price target on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden Entertainment from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Madison Square Garden Entertainment Price Performance

MSGE opened at $64.90 on Thursday. The company has a fifty day moving average price of $60.38 and a two-hundred day moving average price of $55.98. The company has a debt-to-equity ratio of 15.40, a quick ratio of 0.68 and a current ratio of 0.68. Madison Square Garden Entertainment has a 52 week low of $35.31 and a 52 week high of $69.86. The firm has a market capitalization of $2.62 billion, a PE ratio of 63.63 and a beta of 0.61.

Madison Square Garden Entertainment (NYSE:MSGE) last released its earnings results on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Madison Square Garden Entertainment had a negative return on equity of 410.69% and a net margin of 4.81%.The business had revenue of $246.26 million for the quarter, compared to analyst estimates of $242.99 million. During the same period in the prior year, the firm posted $0.17 EPS. Madison Square Garden Entertainment’s revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Madison Square Garden Entertainment will post 1.13 earnings per share for the current year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other news, Director Charles P. Dolan sold 19,311 shares of Madison Square Garden Entertainment stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.76, for a total transaction of $1,231,269.36. Following the transaction, the director directly owned 660 shares of the company’s stock, valued at $42,081.60. This trade represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.41% of the stock is currently owned by corporate insiders.

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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Madison Square Garden Entertainment by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock worth $775,000 after purchasing an additional 1,193 shares in the last quarter. Millennium Management LLC bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $4,994,000. Dynamic Technology Lab Private Ltd bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $210,000. Jane Street Group LLC bought a new stake in Madison Square Garden Entertainment in the 1st quarter valued at $1,468,000. Finally, JPMorgan Chase & Co. lifted its position in Madison Square Garden Entertainment by 53.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after acquiring an additional 35,678 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Key Stories Impacting Madison Square Garden Entertainment

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

• Positive Sentiment: BTIG Research raised its price target on MSGE to $86 from $70 and reiterated a buy rating, signaling more upside potential for the stock. BTIG price target raise via Benzinga
• Positive Sentiment: Madison Square Garden Entertainment announced a new multi-year partnership with Kalshi, naming it an official prediction market partner of The Garden and renaming part of the venue the Kalshi Concourse, which could add sponsorship and branding revenue. Kalshi partnership announcement
• Positive Sentiment: Management highlighted stronger concert activity at The Garden, with expectations for a significant fiscal fourth-quarter increase in concerts and support from Harry Styles’ 30-night residency, which points to healthy near-term venue demand. Concert boom and residency outlook
• Neutral Sentiment: JPMorgan raised its price target to $67 from $63 but kept a neutral rating, suggesting valuation is more balanced despite modest upside from current levels. JPMorgan price target update
• Negative Sentiment: Fiscal third-quarter earnings came in below estimates at $0.11 per share versus the expected $0.14, which may temper enthusiasm despite revenue slightly topping forecasts. Q3 earnings results

About Madison Square Garden Entertainment

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.