Goldman Sachs Launches Madison Square Garden Entertainment Cover – (MSGE) With Neutral Recommendation
Fintel reports that on May 26, 2023, Goldman Sachs launched Madison Square Garden Entertainment coverage – (NYSE: MSGE) with a neutral endorsement.
Analyst price forecast suggests 109.47% upside
As of April 24, 2023, the one-year average price target for Madison Square Garden Entertainment was 74.80. The forecast ranges from a low of 70.70 to a high of $81.90. The average price target represents a 109.47% increase from its last published closing price of 35.71.
Check out our ranking of companies with the biggest upward price target.
Madison Square Garden Entertainment’s projected annual revenue is $1,992 million, an increase of 125.88%. Projected annual non-GAAP EPS is -1.92.
What is fund sentiment?
There are 221 funds or institutions reporting positions in Madison Square Garden Entertainment -. This is unchanged over the last quarter. The average portfolio weight of all funds dedicated to MSGE is 0.26%, an increase of 9.41%. The total number of shares held by institutions has increased over the past three months by 3.45% to 13,710,000 shares. MSGE’s put/call ratio is 0.32, indicating a bullish outlook.
What are the other shareholders doing?
ARGFX – Ariel Fund Investor Class holds 2,692,000 shares. In its previous filing, the company said it held 2,727,000 shares, down 1.28%. The company increased its portfolio allocation to MSGE by 20.48% in the last quarter.
TRMCX – T. Rowe Price Mid-Cap Value Fund holds 1,224,000 shares. In its previous filing, the company said it held 1,164,000 shares, which represents an increase of 4.86%. The company increased its portfolio allocation to MSGE by 34.97% in the last quarter.
SHRAX – ClearBridge Aggressive Growth Fund holds 918,000 shares. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 826,000 shares. In its previous filing, the company said it held 795,000 shares, which represents an increase of 3.77%. The company increased its portfolio allocation to MSGE by 26.03% in the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 689,000 shares. In its previous filing, the company said it held 678,000 shares, which represents an increase of 1.69%. The company increased its portfolio allocation to MSGE by 28.24% in the last quarter.
General information about entertainment at Madison Square Garden
(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 wide range of events at its diverse collection of venues: New York’s Madison Square Garden, the Hulu Theater at Madison Square Garden, Radio City Music Hall and the Beacon Theater; and the Chicago Theater. 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 presents 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 dining and nightlife brands such as Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathedral.
Key deposits for this company:
This story originally appeared on Fintel.
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