Channing Capital Management LLC Sells 200,527 Shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Channing Capital Management LLC decreased its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 9.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,030,480 shares of the company’s stock after selling 200,527 shares during the quarter. Madison Square Garden Entertainment makes up about 1.9% of Channing Capital Management LLC’s portfolio, making the stock its 28th largest position. Channing Capital Management LLC’s holdings in Madison Square Garden Entertainment were worth $64,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new stake in shares of Madison Square Garden Entertainment in the third quarter valued at approximately $43,000. NBC Securities Inc. acquired a new stake in Madison Square Garden Entertainment in the 3rd quarter worth $209,000. Commonwealth Equity Services LLC bought a new position in shares of Madison Square Garden Entertainment during the 3rd quarter worth about $211,000. Graham Capital Management L.P. acquired a new position in shares of Madison Square Garden Entertainment during the third quarter valued at about $272,000. Finally, Arizona State Retirement System lifted its stake in shares of Madison Square Garden Entertainment by 16.3% in the third quarter. Arizona State Retirement System now owns 8,800 shares of the company’s stock valued at $290,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Trading Up 2.1 %

MSGE stock traded up $0.82 during trading on Friday, reaching $40.30. 1,006,590 shares of the stock were exchanged, compared to its average volume of 349,924. The stock has a 50 day simple moving average of $38.71 and a 200-day simple moving average of $34.44. The company has a market capitalization of $1.66 billion and a P/E ratio of 26.17. Madison Square Garden Entertainment Corp. has a twelve month low of $27.55 and a twelve month high of $41.58.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.59 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 94.05% and a net margin of 8.03%. Madison Square Garden Entertainment’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 earnings per share. Equities analysts predict that Madison Square Garden Entertainment Corp. will post 1.08 EPS for the current year.

Insider Activity

In other news, CEO James Lawrence Dolan sold 28,796 shares of Madison Square Garden Entertainment stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $37.71, for a total transaction of $1,085,897.16. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 190,080 shares of company stock worth $7,221,633. 18.72% of the stock is currently owned by corporate insiders.

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.