Madison Square Garden Entertainment Corp.’s filing revealed that its Member of 13(d) Group DOLAN THOMAS CHARLES acquired Company’s shares for reported $10.0 million on Jun 27. In the deal valued at $31.00 per share,322,580 shares were bought. As a result of this transaction, DOLAN THOMAS CHARLES now holds 369,708 shares worth roughly $ 11.46 million.
Then, Sphere Entertainment Co. sold 6,877,553 shares, generating $204,675,977 in total proceeds. Upon selling the shares at $29.76, the 10% Owner now owns 10,143,938 shares.
Before that, Thomas Isiah III sold 931 shares. Madison Square Garden Entertainment Corp. shares valued at $54,445 were divested by the Director at a price of $58.48 per share. As a result of the transaction, Thomas Isiah III now holds 0 shares, worth roughly $0.0.
BofA Securities initiated its Madison Square Garden Entertainment Corp. [MSGE] rating to a Buy in a research note published on Friday, August 22, 2023; the price target was $41. PT values the company’s stock at a premium of 24.39 to its Friday closing price.
Price Performance Review of MSGE
On Friday, Madison Square Garden Entertainment Corp. [NYSE:MSGE] saw its stock fall -3.40% to $31.00. On the same session, the stock had its day’s lowest price of $30.64, but rose to a high of $32.23. Over the last five days, the stock has lost -2.91%. Madison Square Garden Entertainment Corp. shares have fallen nearly -3.12% since the year began. A total of 0.33 million shares were traded, compared to the trading of 0.26 million shares in the previous session.
Levels Of Support And Resistance For MSGE Stock
The 24-hour chart illustrates a support level at 30.35, which if violated will result in even more drops to 29.70. On the upside, there is a resistance level at 31.94. A further resistance level may holdings at 32.88. The Relative Strength Index (RSI) on the 14-day chart is 41.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.86%. Stochastics %K at 59.47% indicates the stock is a holding.
How much short interest is there in Madison Square Garden Entertainment Corp.?
A steep rise in short interest was recorded in Madison Square Garden Entertainment Corp. stocks on Aug 14, 2023, dropping by -0.17 million shares to a total of 1.44 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.61 million shares. There was a decline of -11.81%, which implies that there is a negative sentiment for the stock.
Madison Square Garden Entertainment Corp. [MSGE] – Who Are The Largest Shareholders?
In filings from Ariel Investments LLC, it is revealed that the company now owns 6,997,080 shares, or roughly 15.85% of the outstanding MSGE shares.. At present, Dimensional Fund Advisors LP is holding 1,098,755 shares valued at $38.28 million. ClearBridge Investments LLC owned 1,023,381 shares of the company at the time of its most recent 13F filing, worth $35.65 million.
According to FactSet, Madison Square Garden Entertainment Corp.’s share price will average $40.43 in the next year, based on opinions of analysts polled by the firm. This is up nearly 27.77 percent from its previous closing price of $32.09. Analysts expect Madison Square Garden Entertainment Corp. stock to reach the higher price of $43.00, while the lowest price estimate is $36.00. However, 8 analysts have rated MSGE stock as an Overweight in their predictions for 2023.