Professional
Added to YB: 2024-03-13
Pitch date: 2023-12-31
MSGE [bullish]
Madison Square Garden Entertainment Corp.
+73.88%
current return
Author Info
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Company Info
Madison Square Garden Entertainment Corp., through its subsidiaries, engages in live entertainment business.
Market Cap
$2.1B
Pitch Price
$31.47
Price Target
N/A
Dividend
N/A
EV/EBITDA
13.96
P/E
62.73
EV/Sales
3.45
Sector
Entertainment
Category
turnaround
Ariel Fund Portfolio Holding: Madison Square Garden Entertainment Corp.
MSGE: Earnings miss as revenue dipped YOY, due to fewer concerts vs. COVID-reschedule boost prior yr. Event count actually up mid-teens, revenue/concert up. Strong demand spurred more Christmas shows; 2024 guidance upheld. Top assets like Madison Square Garden ensure live event leverage, stable cash flow, & deleveraging. Trading below estimated private market value.
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