Fintel reports that on May 26, 2023, Goldman Sachs initiated coverage of Madison Square Garden Entertainment – (NYSE:MSGE) with a Neutral recommendation.

Analyst Price Forecast Suggests 109.47% Upside

As of April 24, 2023, the average one-year price target for Madison Square Garden Entertainment – is 74.80. The forecasts range from a low of 70.70 to a high of $81.90. The average price target represents an increase of 109.47% from its latest reported closing price of 35.71.

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The projected annual revenue for Madison Square Garden Entertainment – is 1,992MM, an increase of 125.88%. The projected annual non-GAAP EPS is -1.92.

What is the Fund Sentiment?

There are 221 funds or institutions reporting positions in Madison Square Garden Entertainment -. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to MSGE is 0.26%, an increase of 9.41%. Total shares owned by institutions increased in the last three months by 3.45% to 13,710K shares. The put/call ratio of MSGE is 0.32, indicating a bullish outlook.

What are Other Shareholders Doing?

ARGFX – Ariel Fund Investor Class holds 2,692K shares. In it’s prior filing, the firm reported owning 2,727K shares, representing a decrease of 1.28%. The firm increased its portfolio allocation in MSGE by 20.48% over the last quarter.

TRMCX – T. Rowe Price Mid-Cap Value Fund holds 1,224K shares. In it’s prior filing, the firm reported owning 1,164K shares, representing an increase of 4.86%. The firm increased its portfolio allocation in MSGE by 34.97% over the last quarter.

SHRAX – ClearBridge Aggressive Growth Fund holds 918K shares. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 826K shares. In it’s prior filing, the firm reported owning 795K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in MSGE by 26.03% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 689K shares. In it’s prior filing, the firm reported owning 678K shares, representing an increase of 1.69%. The firm increased its portfolio allocation in MSGE by 28.24% 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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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