Citigroup Inc. Trims Stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE)
Citigroup Inc. lowered its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Free Report) by 90.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,033 shares of the company’s stock after selling 20,079 shares during the quarter. Citigroup Inc.’s holdings […] Citigroup Inc. reduced its stake in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 90.8% during the 3rd quarter. The firm now owns 2,033 shares of the company’s stock after selling 20,079 shares during the same period. Citigroup's holdings in the company were worth $67,000. Other hedge funds and other institutional investors have also recently modified their holdings. CEO James Lawrence Dolan sold 24,284 shares of Madison Square Gard Entertainment in a transaction on Monday, valued at $906,036. Over the last 90 days, insiders have sold 190,080 shares of company stock worth $7,221,633.
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Citigroup Inc. lowered its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Free Report) by 90.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,033 shares of the company’s stock after selling 20,079 shares during the quarter. Citigroup Inc.’s holdings in Madison Square Garden Entertainment were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Madison Square Garden Entertainment during the third quarter valued at about $43,000. Lazard Asset Management LLC purchased a new stake in Madison Square Garden Entertainment in the third quarter worth about $43,000. National Bank of Canada FI grew its holdings in Madison Square Garden Entertainment by 359.3% in the third quarter. National Bank of Canada FI now owns 1,534 shares of the company’s stock worth $50,000 after purchasing an additional 1,200 shares during the period. US Bancorp DE grew its holdings in Madison Square Garden Entertainment by 71.4% in the second quarter. US Bancorp DE now owns 2,047 shares of the company’s stock worth $62,000 after purchasing an additional 853 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Madison Square Garden Entertainment in the first quarter worth about $62,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.
In other news, CEO James Lawrence Dolan sold 24,284 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $37.31, for a total value of $906,036.04. Following the transaction, the chief executive officer now owns 360,242 shares in the company, valued at $13,440,629.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 190,080 shares of company stock worth $7,221,633. Corporate insiders own 18.72% of the company’s stock.
Madison Square Garden Entertainment (NYSE:MSGE – Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.69. The business had revenue of $402.67 million for the quarter, compared to analysts’ expectations of $385.92 million. Madison Square Garden Entertainment had a net margin of 8.03% and a negative return on equity of 94.05%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 earnings per share. Equities research analysts predict that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current year.
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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