314 institutions hold shares in Madison Square Garden Entertainment Corp. (MSGE), with 836k shares held by insiders accounting for 3.46% while institutional investors hold 90.11% of the company’s shares. The shares outstanding are 24.15M, and float is at 14.41M with Short Float at 5.13%. Institutions hold 86.98% of the Float.
The top institutional shareholder in the company is Ariel Investments, LLC with over 2.11 million shares valued at $221.36 million. The investor’s holdings represent 10.74% of the MSGE Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 1.71 million shares valued at $179.62 million to account for 8.72% of the shares outstanding. The other top investors are ClearBridge Investments, LLC which holds 0.92 million shares representing 4.69% and valued at over $96.59 million, while Marshall Wace Asia Ltd holds 4.17% of the shares totaling 0.82 million with a market value of $85.86 million.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) is -12.48% lower on its value in year-to-date trading and has touched a low of $63.55 and a high of $121.42 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MSGE stock was last observed hovering at around $91.37 in the last trading session, with the day’s gains setting it 0.56% off its average median price target of $113.00 for the next 12 months. It is also 27.04% off the consensus price target high of $126.00 offered by 9 analysts, but current levels are -2.14% lower than the price target low of $90.00 for the same period.
Currently trading at $91.93, the stock is 3.78% and -5.05% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.24 million and changing 0.61% at the moment leaves the stock 10.17% off its SMA200. MSGE registered 7.84% gain for a year compared to 6-month gain of 35.97%. The firm has a 50-day simple moving average (SMA 50) of $92.45 and a 200-day simple moving average (SMA200) of $88.84.
The stock witnessed a 11.91% loss in the last 1 month and extending the period to 3 months gives it a 1.14%, and is 2.92% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.27% over the week and 3.52% over the month.
Madison Square Garden Entertainment Corp. (MSGE) has around 1500 employees, a market worth around $2.16B and $228.40M in sales. Distance from 52-week low is 44.66% and -24.29% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.30%).
Madison Square Garden Entertainment Corp. (MSGE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Madison Square Garden Entertainment Corp. (MSGE) is a “Buy”. 9 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Madison Square Garden Entertainment Corp. is expected to release its quarterly report on 08/13/2021 and quarterly earnings per share for the current quarter are estimated at -$3.76 with sales reaching $46.51M over the same period.The EPS is expected to grow by 196.20% this year, but quarterly earnings will post -77.70% year-over-year. Quarterly sales are estimated to shrink -76.70% in year-over-year returns.
Madison Square Garden Entertainment Corp. (MSGE) Insider Activity
The most recent transaction is an insider sale by D’Ambrosio Philip Gerard, the company’s SVP and Treasurer. SEC filings show that D’Ambrosio Philip Gerard sold 500 shares of the company’s common stock on Dec 23 at a price of $87.75 per share for a total of $43875.0. Following the sale, the insider now owns 2928.0 shares.
Madison Square Garden Entertainment Corp. disclosed in a document filed with the SEC on Dec 22 that D’Ambrosio Philip Gerard (SVP and Treasurer) sold a total of 900 shares of the company’s common stock. The trade occurred on Dec 22 and was made at $86.23 per share for $77607.0. Following the transaction, the insider now directly holds 3428.0 shares of the MSGE stock.
Still, SEC filings show that on Nov 24, D’Ambrosio Philip Gerard (SVP, Treasurer and Secretary) disposed off 600 shares at an average price of $81.18 for $48708.0. The insider now directly holds 4,328 shares of Madison Square Garden Entertainment Corp. (MSGE).