Madison Square Garden Entertainment Corp. (NYSE: MSGE)’s stock price has dropped by -5.62 in relation to previous closing price of 39.88. Nevertheless, the company has seen a loss of -4.66% in its stock price over the last five trading days. PRNewsWire reported 2024-05-02 that NEW YORK, May 2, 2024 /PRNewswire/ — Madison Square Garden Entertainment Corp. (NYSE: MSGE) will host a conference call to discuss results for its fiscal third quarter ended March 31, 2024 on Thursday, May 9, 2024 at 10:00 a.m. Eastern Time.
Is It Worth Investing in Madison Square Garden Entertainment Corp. (NYSE: MSGE) Right Now?
The price-to-earnings ratio for Madison Square Garden Entertainment Corp. (NYSE: MSGE) is above average at 24.36x. The 36-month beta value for MSGE is also noteworthy at 0.38. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MSGE is 40.12M, and at present, short sellers hold a 5.71% of that float. The average trading volume of MSGE on May 09, 2024 was 456.76K shares.
MSGE’s Market Performance
MSGE’s stock has seen a -4.66% decrease for the week, with a -4.61% drop in the past month and a 1.84% gain in the past quarter. The volatility ratio for the week is 2.91%, and the volatility levels for the past 30 days are at 2.32% for Madison Square Garden Entertainment Corp. The simple moving average for the last 20 days is -3.88% for MSGE’s stock, with a simple moving average of 10.70% for the last 200 days.
Analysts’ Opinion of MSGE
Many brokerage firms have already submitted their reports for MSGE stocks, with BofA Securities repeating the rating for MSGE by listing it as a “Buy.” The predicted price for MSGE in the upcoming period, according to BofA Securities is $41 based on the research report published on August 22, 2023 of the previous year 2023.
JP Morgan, on the other hand, stated in their research note that they expect to see MSGE reach a price target of $38. The rating they have provided for MSGE stocks is “Neutral” according to the report published on August 11th, 2023.
Macquarie gave a rating of “Outperform” to MSGE, setting the target price at $43 in the report published on June 01st of the previous year.
MSGE Trading at -3.04% from the 50-Day Moving Average
After a stumble in the market that brought MSGE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.48% of loss for the given period.
Volatility was left at 2.32%, however, over the last 30 days, the volatility rate increased by 2.91%, as shares sank -6.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.46% lower at present.
During the last 5 trading sessions, MSGE fell by -5.91%, which changed the moving average for the period of 200-days by +9.31% in comparison to the 20-day moving average, which settled at $39.04. In addition, Madison Square Garden Entertainment Corp. saw 18.40% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MSGE starting from DOLAN JAMES LAWRENCE, who sale 37,000 shares at the price of $38.10 back on Mar 06 ’24. After this action, DOLAN JAMES LAWRENCE now owns 155,143 shares of Madison Square Garden Entertainment Corp., valued at $1,409,678 using the latest closing price.
DOLAN JAMES LAWRENCE, the Executive Chairman / CEO of Madison Square Garden Entertainment Corp., sale 100,000 shares at $38.20 during a trade that took place back on Mar 04 ’24, which means that DOLAN JAMES LAWRENCE is holding 192,143 shares at $3,819,790 based on the most recent closing price.
Stock Fundamentals for MSGE
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.4 for the gross margin
The net margin for Madison Square Garden Entertainment Corp. stands at 0.11. The total capital return value is set at 0.09.
Based on Madison Square Garden Entertainment Corp. (MSGE), the company’s capital structure generated 1.12 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at -9.49. The interest coverage ratio of the stock is 1.48.
Currently, EBITDA for the company is 195.98 million with net debt to EBITDA at 7.44. When we switch over and look at the enterprise to sales, we see a ratio of 3.12. The receivables turnover for the company is 5.75for trailing twelve months and the total asset turnover is 0.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.47.
Conclusion
In summary, Madison Square Garden Entertainment Corp. (MSGE) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
