Is Madison Square Garden Entertainment Corp. (NYSE: MSGE) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Most recently, Yahoo Finance reported about the stock as it publicized that MADISON SQUARE GARDEN ENTERTAINMENT CORP. REPORTS FISCAL 2024 SECOND QUARTER RESULTS.

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Stocks Info

MSGE belongs to the Consumer Cyclical sector of the NYSE while operating in the Leisure industry. The current market capitalization of Madison Square Garden Entertainment Corp. is $1.76B. A total of 0.79 million shares were traded on the day, compared to an average of 1.49 shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, MSGE has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 54 BUYs and 24 SELLs from insiders. Insiders purchased 1,235,841 shares during that period but sold 17,128,008.

In the most recent transaction, Sphere Entertainment Co. sold 8,221,188 shares of MSGE for 31.20 per share on Sep 22. After the transaction, the 10% Owner now owns 0 company shares. In a previous transaction on Jun 27, DOLAN THOMAS CHARLES bought 322,580 shares at 31.00 per share. MSGE shares that Member of 13(d) Group owns now total 369,708.

Among the insiders who sold shares, Sphere Entertainment Co. disposed of 6,877,553 shares on Jun 27 at a per-share price of $29.76. This resulted in the 10% Owner holding 10,143,938 shares of MSGE after the transaction. In another insider transaction, Thomas Isiah III sold 931 shares at $58.48 per share on Mar 09. Company shares held by the Director now total 0.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for MSGE in the last 3 months, the mean price target is $41.71 with high estimates of $45.00 and low estimates of $38.00. In terms of 52-week highs and lows, MSGE has a high of $40.81 and a low of $27.55.

As of this writing, MSGE has an earnings estimate of $0.2 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of $0.34 per share and a lower estimate of -$0.07. The company reported an EPS of -$0.96 in the last quarter, which was -95.90% lower than expectations of -$0.49.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. MSGE’s latest balance sheet shows that the firm has $58.10M in Cash & Short Term Investments as of fiscal 2022. There were $956.79M in debt and $545.09M in liabilities at the time. Its Book Value Per Share was -$2.13, while its Total Shareholder’s Equity was -$1.59M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MSGE is Buy with a score of 4.14.

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