Mind Uncharted Explore. Discover. Learn.
Madison Square Garden Entertainment Corp. Receives “Hold” Rating
Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) has received a consensus recommendation of “Hold” from six analysts covering the firm, MarketBeat.com reports. Of these analysts, three have rated the stock as a hold and two have recommended it as a buy. The average one-year price objective among analysts that have provided a report on the stock over the past year is $56.20.
Analyst Insights
Several analysts have recently commented on MSGE shares. Guggenheim initiated coverage on Madison Square Garden Entertainment with a “buy” rating and a $37.00 target price for the company. Morgan Stanley lifted their target price from $50.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 10th. Seaport Res Ptn also reiterated a “buy” rating on Madison Square Garden Entertainment, in a research report on Sunday, April 23rd.
Madison Square Garden Entertainment Trading Down 0.5%
Shares of NYSE:MSGE opened at $38.04 on Wednesday. The company has a 12-month low of $28.09 and a 12-month high of $39.19. The stock has a fifty-day simple moving average of $45.71 and a two-hundred-day simple moving average of $48.23.
Insider Trading: Director Isiah Thomas III Sells Shares
In other news, Director Isiah Thomas III sold 931 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $58.48 for a total value of $54,444.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their holdings in Madison Square Garden Entertainment. Rockefeller Capital Management L.P. increased its holdings by 82.8% in the third quarter, now owning 649 shares of the company’s stock valued at $28,000 after acquiring an additional 294 shares during that period. Dark Forest Capital Management LP increased its stake by 3,687% in the first quarter, now owning 2,045 shares of the company’s stock valued at $121,000 after purchasing an additional 1,991 shares during that period. Hedge funds and other institutional investors own 73.28% of the company’s stock.
About Madison Square Garden Entertainment
Madison Square Garden Entertainment Corp. engages in the entertainment business, producing and presenting live entertainment events, including concerts, family shows, special events, and sporting events such as bull riding, wrestling, and college basketball and hockey. The company’s venues include The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City, as well as The Chicago Theatre.
MarketBeat’s Top 5 Analyst-Rated Stocks to Buy
While MSGE currently holds a “Hold” rating from analysts, MarketBeat suggests five other stocks rated by top Wall Street analysts as better buys. Keep track of top-rated research analysts and the stocks they recommend by visiting the MarketBeat website for daily updates.
