The Potential Rise in the Price of Madison Square Garden Entertainment Corp. (MSGE) following insiders activity

CHWY Stock
CHWY Stock

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.

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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.


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