Vanguard Group Inc. Sells 1,880,509 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)
Vanguard Group Inc. trimmed its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,985,425 shares of the company's stock after selling 1,880,5 Vanguard Group Inc. reduced its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 32.1% during the third quarter. The firm now owns 3,985,425 shares of the company's stock after selling 1,880,509 shares. Vanguard Group owned 9.70% of the stock, worth $131,160,000. Other hedge funds and other institutional investors have also made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares by 686.0% in the 3rd quarter. Meanwhile, Walleye Capital LLC increased its holdings by 11.2%. Kettle Hill Capital Management LLC raised their holdings by 228.5%.
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Vanguard Group Inc. trimmed its stake in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE - Free Report) by 32.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,985,425 shares of the company's stock after selling 1,880,509 shares during the quarter. Vanguard Group Inc. owned 9.70% of Madison Square Garden Entertainment worth $131,160,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in shares of Madison Square Garden Entertainment during the 3rd quarter valued at $272,000. Walleye Capital LLC raised its holdings in shares of Madison Square Garden Entertainment by 11.2% in the 3rd quarter. Walleye Capital LLC now owns 536,644 shares of the company's stock valued at $17,661,000 after acquiring an additional 53,967 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Madison Square Garden Entertainment by 686.0% in the 3rd quarter. Sei Investments Co. now owns 48,491 shares of the company's stock valued at $1,596,000 after acquiring an additional 42,322 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Madison Square Garden Entertainment in the 3rd quarter valued at about $62,652,000. Finally, Kettle Hill Capital Management LLC raised its holdings in shares of Madison Square Garden Entertainment by 228.5% in the 3rd quarter. Kettle Hill Capital Management LLC now owns 192,500 shares of the company's stock valued at $6,335,000 after acquiring an additional 133,899 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors.
NYSE:MSGE opened at $39.69 on Wednesday. The business's 50-day moving average price is $37.08 and its two-hundred day moving average price is $33.39. Madison Square Garden Entertainment Corp. has a twelve month low of $27.55 and a twelve month high of $40.81. The stock has a market cap of $1.63 billion and a P/E ratio of 25.77.
Madison Square Garden Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.69. Madison Square Garden Entertainment had a negative return on equity of 94.05% and a net margin of 8.03%. The firm had revenue of $402.67 million for the quarter, compared to analysts' expectations of $385.92 million. During the same quarter last year, the firm posted $1.95 EPS. The company's revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts expect that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current fiscal year.
In other news, CEO James Lawrence Dolan sold 28,796 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $37.71, for a total transaction of $1,085,897.16. Following the transaction, the chief executive officer now directly owns 292,143 shares in the company, valued at approximately $11,016,712.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 190,080 shares of company stock valued at $7,221,633 in the last 90 days. Corporate insiders own 18.72% of the company's stock.
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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