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Charles F. Dolan 2009 Revocable Trust executed a significant stock sale involving Madison Square Garden Entertainment Corp. (NYSE:MSGE) shares, according to a recent SEC filing. The company, currently valued at $1.1 billion, has received a GOOD financial health score from InvestingPro despite recent market challenges. On March 10 and 11, the trust sold a total of 73,158 shares of Class A Common Stock. The transactions were completed at prices ranging from $30.93 to $32.60 per share, resulting in a total sale value of approximately $2.27 million. The stock, trading at a P/E ratio of 32.5, is currently near its 52-week low of $30.56, having declined about 15% over the past year.
Following these transactions, the trust no longer holds any shares in the company. The sales were executed in multiple trades over the two-day period, with the weighted average prices reflecting the overall range. For deeper insights into MSGE’s valuation and 10+ additional ProTips, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Madison Square Garden Entertainment has been the subject of attention from analysts at both Macquarie and Guggenheim. Macquarie increased its price target for the company to $250, maintaining an Outperform rating. This decision follows a mixed second-quarter performance, where revenue surpassed expectations, but higher costs affected adjusted operating income. Additionally, a significant carriage deal resolution with Optimum is expected to stabilize revenue streams for MSG Networks (NYSE:MSGN), a subsidiary of MSG Entertainment.
Guggenheim analysts reiterated their Buy rating with a $48.00 price target, emphasizing MSG Entertainment as their Best Idea for 2025. Despite recent stock performance pressures, Guggenheim remains optimistic about near double-digit growth in adjusted operating income for fiscal year 2025. The firm’s confidence is supported by strong secular tailwinds in the live entertainment sector and MSG Entertainment’s strategic asset location in New York City. Moreover, MSG Entertainment’s ongoing stock repurchase activities and potential developments around Penn Station are seen as positive indicators for the company’s future.
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