MSGE

Guggenheim Initiates Coverage of Madison Square Garden Entertainment - (MSGE) with Buy Recommendation

Fintel reports that on May 17, 2023, Guggenheim initiated coverage of Madison Square Garden Entertainment - (NYSE:MSGE) with a Buy recommendation.

Analyst Price Forecast Suggests 143.73% Upside

As of April 24, 2023, the average one-year price target for Madison Square Garden Entertainment - is 74.80. The forecasts range from a low of 70.70 to a high of $81.90. The average price target represents an increase of 143.73% from its latest reported closing price of 30.69.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Madison Square Garden Entertainment - is 1,992MM, an increase of 127.75%. The projected annual non-GAAP EPS is -1.92.

What is the Fund Sentiment?

There are 405 funds or institutions reporting positions in Madison Square Garden Entertainment -. This is a decrease of 2 owner(s) or 0.49% in the last quarter. Average portfolio weight of all funds dedicated to MSGE is 0.21%, an increase of 11.17%. Total shares owned by institutions decreased in the last three months by 1.63% to 32,880K shares. MSGE / Madison Square Garden Entertainment Corp. - Class A Put/Call Ratios The put/call ratio of MSGE is 0.32, indicating a bullish outlook.

What are Other Shareholders Doing?

MSGE / Madison Square Garden Entertainment Corp. - Class A Shares Held by Institutions

Ariel Investments holds 6,660K shares. In it's prior filing, the firm reported owning 6,693K shares, representing a decrease of 0.49%. The firm increased its portfolio allocation in MSGE by 21.24% over the last quarter.

ARGFX - Ariel Fund Investor Class holds 2,727K shares. In it's prior filing, the firm reported owning 2,310K shares, representing an increase of 15.29%. The firm increased its portfolio allocation in MSGE by 10.10% over the last quarter.

Price T Rowe Associates holds 2,020K shares. In it's prior filing, the firm reported owning 1,926K shares, representing an increase of 4.63%. The firm decreased its portfolio allocation in MSGE by 43.19% over the last quarter.

TRMCX - T. Rowe Price Mid-Cap Value Fund holds 1,164K shares. In it's prior filing, the firm reported owning 946K shares, representing an increase of 18.78%. The firm increased its portfolio allocation in MSGE by 15.68% over the last quarter.

Channing Capital Management holds 1,129K shares. In it's prior filing, the firm reported owning 1,112K shares, representing an increase of 1.49%. The firm increased its portfolio allocation in MSGE by 34.90% over the last quarter.

Madison Square Garden Entertainment Background Information
(This description is provided by the company.)

Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment experiences. The Company presents or hosts a broad array of events in its diverse collection of venues: New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; and The Chicago Theatre. MSG Entertainment is also building a new state-of-the-art venue in Las Vegas, MSG Sphere at The Venetian, and has announced plans to build a second MSG Sphere in London, pending necessary approvals. In addition, the Company features the original production - the Christmas Spectacular Starring the Radio City Rockettes - and through Boston Calling Events, produces the Boston Calling Music Festival. Also under the MSG Entertainment umbrella is Tao Group Hospitality, with entertainment dining and nightlife brands including Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathédrale.

Key filings for this company:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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