AXQ Capital LP Makes New Investment in Madison Square Garden Entertainment Corp. $MSGE

AXQ Capital LP bought a new stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the 4th quarter, Holdings Channel reports. The institutional investor bought 7,531 shares of the company’s stock, valued at approximately $406,000.

A number of other hedge funds have also recently made changes to their positions in MSGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Madison Square Garden Entertainment by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company’s stock valued at $775,000 after buying an additional 1,193 shares during the period. Millennium Management LLC bought a new position in Madison Square Garden Entertainment during the 1st quarter worth approximately $4,994,000. Dynamic Technology Lab Private Ltd acquired a new position in Madison Square Garden Entertainment in the first quarter valued at $210,000. Jane Street Group LLC acquired a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $1,468,000. Finally, JPMorgan Chase & Co. lifted its stake in Madison Square Garden Entertainment by 53.5% in the second quarter. JPMorgan Chase & Co. now owns 102,307 shares of the company’s stock valued at $4,089,000 after buying an additional 35,678 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden Entertainment from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Thursday, May 21st. Guggenheim increased their price target on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Susquehanna raised their price objective on Madison Square Garden Entertainment from $77.00 to $80.00 and gave the company a “positive” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Madison Square Garden Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Madison Square Garden Entertainment Trading Down 0.6%

Shares of Madison Square Garden Entertainment stock opened at $71.35 on Friday. The firm has a market cap of $2.89 billion, a PE ratio of 69.96 and a beta of 0.61. The stock has a fifty day moving average price of $64.54 and a 200-day moving average price of $59.28. 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 $73.00.

Madison Square Garden Entertainment (NYSE:MSGE) last posted 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 company had revenue of $246.26 million for the quarter, compared to analysts’ expectations of $242.99 million. Madison Square Garden Entertainment had a return on equity of 4,795.27% and a net margin of 4.81%.The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. Equities research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.28 EPS for the current year.

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.