Morgan Stanley Boosts Madison Square Garden Entertainment (NYSE:MSGE) Price Target to $45.00

Madison Square Garden Entertainment (NYSE:MSGE) had its price objective hoisted by Morgan Stanley from $42.00 to $45.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, The Goldman Sachs Group upgraded Madison Square Garden Entertainment from a neutral rating to a buy rating and raised their target price for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $43.40.

Madison Square Garden Entertainment Trading Down 0.8 %

NYSE MSGE opened at $41.03 on Monday. The stock has a market cap of $1.69 billion, a PE ratio of 34.77, a P/E/G ratio of 3.91 and a beta of 0.12. Madison Square Garden Entertainment has a twelve month low of $27.55 and a twelve month high of $41.76. The stock has a fifty day simple moving average of $36.50 and a 200-day simple moving average of $37.23.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Friday, August 16th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $1.97. Madison Square Garden Entertainment had a negative return on equity of 53.05% and a net margin of 5.74%. The company had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $173.26 million. During the same period last year, the business posted ($0.47) EPS. Madison Square Garden Entertainment’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts predict that Madison Square Garden Entertainment will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quent Capital LLC boosted its stake in shares of Madison Square Garden Entertainment by 1,838.2% in the 1st quarter. Quent Capital LLC now owns 659 shares of the company’s stock valued at $26,000 after buying an additional 625 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Madison Square Garden Entertainment in the 1st quarter valued at about $205,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Madison Square Garden Entertainment by 101.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,236 shares of the company’s stock valued at $207,000 after buying an additional 2,639 shares during the period. OFI Invest Asset Management purchased a new position in shares of Madison Square Garden Entertainment in the 2nd quarter valued at about $251,000. Finally, Marshall Wace LLP boosted its stake in shares of Madison Square Garden Entertainment by 5.8% in the 2nd quarter. Marshall Wace LLP now owns 7,800 shares of the company’s stock valued at $267,000 after buying an additional 426 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

About Madison Square Garden Entertainment

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.