Epoch Investment Partners Inc. Purchases 11,156 Shares of Madison Square Garden Entertainment Corp. $MSGE

Epoch Investment Partners Inc. increased its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 26.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,573 shares of the company’s stock after purchasing an additional 11,156 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Madison Square Garden Entertainment were worth $2,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in Madison Square Garden Entertainment in the 4th quarter worth $37,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Madison Square Garden Entertainment in the 4th quarter worth $47,000. State of Wyoming acquired a new position in Madison Square Garden Entertainment in the 2nd quarter worth $62,000. CIBC Private Wealth Group LLC boosted its stake in shares of Madison Square Garden Entertainment by 3,248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock worth $67,000 after buying an additional 1,202 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Madison Square Garden Entertainment by 15.1% during the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after buying an additional 226 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Madison Square Garden Entertainment from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Guggenheim increased their price objective on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, BTIG Research restated a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Madison Square Garden Entertainment Stock Performance

Shares of NYSE:MSGE opened at $74.27 on Tuesday. The company’s 50 day simple moving average is $66.70 and its 200 day simple moving average is $60.54. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 72.82 and a beta of 0.61. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. Madison Square Garden Entertainment Corp. has a 1 year low of $35.31 and a 1 year high of $74.94.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $246.26 million during the quarter, compared to the consensus estimate of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. As a group, research analysts predict that Madison Square Garden Entertainment Corp. will post 1.28 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Entertainment

In other Madison Square Garden Entertainment news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were 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 approximately $1,174,698.56. The trade was a 38.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 16.41% of the company’s stock.

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.