Fintel reports that on September 1, 2023, Morgan Stanley maintained coverage of Madison Square Garden Entertainment - (NYSE:MSGE) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 30.32% Upside
As of August 31, 2023, the average one-year price target for Madison Square Garden Entertainment - is 41.82. The forecasts range from a low of 38.38 to a high of $45.15. The average price target represents an increase of 30.32% from its latest reported closing price of 32.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Madison Square Garden Entertainment - is 2,401MM, an increase of 181.97%. The projected annual non-GAAP EPS is 0.57.
What is the Fund Sentiment?
There are 373 funds or institutions reporting positions in Madison Square Garden Entertainment -. This is an increase of 155 owner(s) or 71.10% in the last quarter. Average portfolio weight of all funds dedicated to MSGE is 0.17%, a decrease of 41.60%. Total shares owned by institutions increased in the last three months by 183.77% to 38,762K shares. 
The put/call ratio of MSGE is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Ariel Investments holds 6,997K shares.
ARGFX - Ariel Fund Investor Class holds 2,866K shares. In it's prior filing, the firm reported owning 2,529K shares, representing an increase of 11.76%. The firm increased its portfolio allocation in MSGE by 39.10% over the last quarter.
Price T Rowe Associates holds 2,023K shares.
Channing Capital Management holds 1,545K shares.
TRMCX - T. Rowe Price Mid-Cap Value Fund holds 1,270K shares. In it's prior filing, the firm reported owning 1,224K shares, representing an increase of 3.63%. The firm decreased its portfolio allocation in MSGE by 53.44% 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.
Additional reading:
- SPHERE ENTERTAINMENT CO. REPORTS FISCAL 2023 FOURTH QUARTER AND FULL YEAR RESULTS Sphere in Las Vegas Set to Open on September 29th with First of 25 Shows by U2 Exosphere Completely Illuminated for the First Time in July The Sphere Experience Featuri
- between Sphere Entertainment Co.
- Sphere Entertainment Co. Policy Concerning Certain Matters Relating to Madison Square Garden Entertainment Corp., Madison Square Garden Sports Corp. and AMC Networks Inc., Including Responsibilities of Overlapping Directors and Officers.
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