Madison Square Garden Entertainment Corp (NYSE: MSGE) is -3.65% lower on its value in year-to-date trading and has touched a low of $30.25 and a high of $44.14 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 $34.86 in the last trading session, with the day’s loss setting it -0.56%.
Currently trading at $34.30, the stock is -0.40% and -7.03% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.49 million and changing -1.61% at the moment leaves the stock -10.11% off its SMA200. MSGE registered 11.11% gain for a year compared to 6-month gain of -1.44%. The firm has a 50-day simple moving average (SMA 50) of $37.0524 and a 200-day simple moving average (SMA200) of $38.17915.
The stock witnessed a -8.70% loss in the last 1 month and extending the period to 3 months gives it a -17.49%, and is -3.65% down 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 2.77% over the week and 3.05% over the month.
Madison Square Garden Entertainment Corp (MSGE) has around 4700 employees, a market worth around $1.66B and $955.77M in sales. Current P/E ratio is 9.34 and Fwd P/E is 18.75. Profit margin for the company is 18.38%. Distance from 52-week low is 13.39% and -22.29% from its 52-week high. The company has generated returns on investments over the last 12 months (16.74%).
The EPS is expected to shrink by -40.55% this year
267.0 institutions hold shares in Madison Square Garden Entertainment Corp (MSGE), with institutional investors hold 101.36% of the company’s shares. The shares outstanding are 45.96M, and float is at 40.49M with Short Float at 3.98%. Institutions hold 97.85% of the Float.
The top institutional shareholder in the company is ARIEL INVESTMENTS, LLC with over 5.54 million shares valued at $194.17 million. The investor’s holdings represent 11.5116 of the MSGE Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 2.77 million shares valued at $97.06 million to account for 5.7547 of the shares outstanding. The other top investors are JERICHO CAPITAL ASSET MANAGEMENT L.P. which holds 2.54 million shares representing 5.2856 and valued at over $89.15 million, while BLACKROCK INC. holds 4.1018 of the shares totaling 1.97 million with a market value of $69.18 million.
Madison Square Garden Entertainment Corp (MSGE) Insider Activity
The most recent transaction is an insider sale by D’Ambrosio Philip Gerard, the company’s EVP and Treasurer. SEC filings show that D’Ambrosio Philip Gerard sold 6,000 shares of the company’s common stock on Sep 30 ’24 at a price of $42.43 per share for a total of $0.25 million. Following the sale, the insider now owns 12192.0 shares.
Still, SEC filings show that on Aug 20 ’24, SALERNO FREDERIC V (Director) acquired 5,000 shares at an average price of $41.25 for $0.21 million. The insider now directly holds 17,348 shares of Madison Square Garden Entertainment Corp (MSGE).
