Gabelli Funds LLC lessened its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Free Report) by 51.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 611,285 shares of the company’s stock after selling 644,920 shares during the quarter. Gabelli Funds LLC owned 1.49% of Madison Square Garden Entertainment worth $20,117,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of Madison Square Garden Entertainment by 16.3% during the third quarter. Arizona State Retirement System now owns 8,800 shares of the company’s stock worth $290,000 after acquiring an additional 1,233 shares in the last quarter. Versor Investments LP raised its stake in shares of Madison Square Garden Entertainment by 21.2% in the third quarter. Versor Investments LP now owns 9,700 shares of the company’s stock worth $319,000 after purchasing an additional 1,699 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Madison Square Garden Entertainment in the third quarter valued at approximately $209,000. Capula Management Ltd purchased a new position in shares of Madison Square Garden Entertainment during the third quarter valued at approximately $1,010,000. Finally, Panagora Asset Management Inc. grew its holdings in Madison Square Garden Entertainment by 225.3% during the third quarter. Panagora Asset Management Inc. now owns 81,031 shares of the company’s stock worth $2,667,000 after buying an additional 56,119 shares in the last quarter. Institutional investors and hedge funds own 70.02% of the company’s stock.
Madison Square Garden Entertainment Price Performance
Shares of MSGE opened at $33.79 on Tuesday. Madison Square Garden Entertainment Corp. has a fifty-two week low of $27.55 and a fifty-two week high of $40.81. The business has a 50-day moving average of $31.91 and a 200 day moving average of $31.91.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. reduced their target price on shares of Madison Square Garden Entertainment from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.83.
About Madison Square Garden Entertainment
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.
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