Seizert Capital Partners LLC Sells 14,517 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Seizert Capital Partners LLC reduced its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 44.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,482 shares of the company’s stock after selling 14,517 shares during the period. Seizert Capital Partners LLC’s holdings in Madison Square Garden Entertainment were worth $786,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Madison Square Garden Entertainment by 110.7% during the 1st quarter. Russell Investments Group Ltd. now owns 104,538 shares of the company’s stock valued at $4,099,000 after purchasing an additional 54,918 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Madison Square Garden Entertainment during the 2nd quarter valued at about $1,494,000. Epoch Investment Partners Inc. bought a new position in shares of Madison Square Garden Entertainment during the 1st quarter valued at about $13,076,000. Bank of New York Mellon Corp boosted its holdings in shares of Madison Square Garden Entertainment by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 167,073 shares of the company’s stock valued at $5,719,000 after purchasing an additional 17,793 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Madison Square Garden Entertainment by 1,569.2% during the 1st quarter. Lazard Asset Management LLC now owns 43,348 shares of the company’s stock valued at $1,699,000 after purchasing an additional 40,751 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MSGE. The Goldman Sachs Group raised shares of Madison Square Garden Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $45.00 in a report on Wednesday, July 24th. Guggenheim lowered their price target on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Bank of America increased their price target on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 19th. Morgan Stanley lowered their price target on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Macquarie lowered their price target on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Insider Buying and Selling

In other news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the transaction, the executive vice president now directly owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. This trade represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.85% of the stock is currently owned by corporate insiders.

Madison Square Garden Entertainment Price Performance

Madison Square Garden Entertainment stock opened at $36.39 on Monday. Madison Square Garden Entertainment Corp. has a 1-year low of $29.64 and a 1-year high of $44.14. The firm has a market capitalization of $1.75 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 3.32 and a beta of 0.17. The company’s 50-day moving average is $41.28 and its 200 day moving average is $38.59.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The company had revenue of $138.70 million for the quarter, compared to analyst estimates of $139.46 million. During the same period in the prior year, the company posted ($0.73) EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.58 earnings per share for the current fiscal year.

Madison Square Garden Entertainment Profile

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.