Madison Square Garden Entertainment Corp. (NYSE: MSGE) is 19.00% higher on its value in year-to-date trading and has touched a low of $27.55 and a high of $40.81 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MSGE stock was last observed hovering at around $37.90 in the last trading session, with the day’s loss setting it -0.07%.
Currently trading at $37.83, the stock is 0.29% and 7.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.89 million and changing -0.18% at the moment leaves the stock 13.65% off its SMA200. MSGE registered a gain of 15.51% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $3.07 and a 200-day simple moving average (SMA200) of $14.82.
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The stock witnessed a 2.91% loss in the last 1 month and extending the period to 3 months gives it a 19.56%, and is 0.19% 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 1.83% over the week and 2.48% over the month.
Madison Square Garden Entertainment Corp. (MSGE) has around 5820 employees, a market worth around $1.82B and $894.04M in sales. Current P/E ratio is 24.48 and Fwd P/E is 25.14. Profit margin for the company is 8.03%. Distance from 52-week low is 37.31% and -7.30% from its 52-week high. The company has generated returns on investments over the last 12 months (8.82%).
Madison Square Garden Entertainment Corp. quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $227.5M over the same period.The EPS is expected to shrink by -25.98% this year, but quarterly earnings will post 10.70% year-over-year.
233 institutions hold shares in Madison Square Garden Entertainment Corp. (MSGE), with institutional investors hold 99.57% of the company’s shares. The shares outstanding are 44.18M, and float is at 40.09M with Short Float at 5.50%. Institutions hold 96.34% of the Float.
The top institutional shareholder in the company is Ariel Investments, LLC with over 7.0 million shares valued at $235.24 million. The investor’s holdings represent 16.38% of the MSGE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 3.26 million shares valued at $109.58 million to account for 7.63% of the shares outstanding. The other top investors are Blackrock Inc. which holds 2.63 million shares representing 6.15% and valued at over $88.27 million, while Price (T.Rowe) Associates Inc holds 4.74% of the shares totaling 2.02 million with a market value of $68.02 million.
Madison Square Garden Entertainment Corp. (MSGE) Insider Activity
The most recent transaction is an insider sale by DOLAN JAMES LAWRENCE, the company’s Executive Chairman / CEO. SEC filings show that DOLAN JAMES LAWRENCE sold 37,000 shares of the company’s common stock on Mar 06 ’24 at a price of $38.10 per share for a total of $1.41 million. Following the sale, the insider now owns 0.16 million shares.
Madison Square Garden Entertainment Corp. disclosed in a document filed with the SEC on Mar 04 ’24 that DOLAN JAMES LAWRENCE (Executive Chairman / CEO) sold a total of 100,000 shares of the company’s common stock. The trade occurred on Mar 04 ’24 and was made at $38.20 per share for $3.82 million. Following the transaction, the insider now directly holds 0.19 million shares of the MSGE stock.
Still, SEC filings show that on Feb 28 ’24, DOLAN JAMES LAWRENCE (Executive Chairman / CEO) disposed off 28,796 shares at an average price of $37.71 for $1.09 million. The insider now directly holds 292,143 shares of Madison Square Garden Entertainment Corp. (MSGE).
