Madison Square Garden Entertainment Corp. (NYSE:MSGE) has seen 0.32 million shares traded in the last trading session. The company, currently valued at $2.77B, closed the last trade at $80.62 per share which meant it lost -$0.81 on the day or -0.99% during that session. The MSGE stock price is -50.61% off its 52-week high price of $121.42 and 25.25% above the 52-week low of $60.26. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.38 million shares traded. The 3-month trading volume is 401.90K shares.
The consensus among analysts is that Madison Square Garden Entertainment Corp. (MSGE) is an Overweight stock at the moment, with a recommendation rating of 2.00. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 6 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$3.31.
Madison Square Garden Entertainment Corp. (NYSE:MSGE) trade information
Sporting -0.99% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the MSGE stock price touched $80.62 or saw a rise of 1.39%. Year-to-date, Madison Square Garden Entertainment Corp. shares have moved -23.25%, while the 5-day performance has seen it change 1.96%. Over the past 30 days, the shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE) have changed 15.67%. Short interest in the company has seen 0.84 million shares shorted with days to cover at 3.49.
Wall Street analysts have a consensus price target for the stock at $104.17, which means that the shares’ value could jump 22.61% from current levels. The projected low price target is $65.00 while the price target rests at a high of $120.00. In that case, then, we find that the current price level is -48.85% off the targeted high while a plunge would see the stock lose 19.37% from current levels.
Madison Square Garden Entertainment Corp. (MSGE) estimates and forecasts
Figures show that Madison Square Garden Entertainment Corp. shares have outperformed across the wider relevant industry. The company’s shares have lost -31.45% over the past 6 months, with this year growth rate of 98.92%, compared to 28.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 30.20% and 89.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be -76.40%.
4 analysts offering their estimates for the company have set an average revenue estimate of $99.78 million for the current quarter. 3 have an estimated revenue figure of $256.74 million for the next quarter concluding in Sep 2021. Year-ago sales stood $9 million and $25.84 million respectively for this quarter and the next, and analysts expect sales will grow by 1,008.80% for the current quarter and 893.60% for the next.
Madison Square Garden Entertainment Corp. is expected to release its next earnings report on February 12 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Madison Square Garden Entertainment Corp. (NYSE:MSGE)’s Major holders
Insiders own 3.48% of the company shares, while shares held by institutions stand at 84.27% with a share float percentage of 87.31%. Investors are also buoyed by the number of investors in a company, with Madison Square Garden Entertainment Corp. having a total of 323 institutions that hold shares in the company. The top two institutional holders are Ariel Investments, LLC with over 2.58 million shares worth more than $210.91 million. As of Mar 30, 2021, Ariel Investments, LLC held 13.14% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 1.78 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $145.61 million and represent 9.07% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Ariel Fund and Legg Mason Clearbridge Aggressive Growth Fd. As of Mar 30, 2021, the former fund manager holds about 5.18% shares in the company for having 1.02 million shares of worth $83.11 million while later fund manager owns 0.69 million shares of worth $56.82 million as of Mar 30, 2021, which makes it owner of about 3.54% of company’s outstanding stock.