Professional
Added to YB: 2024-07-22
Pitch date: 2024-07-12
MSGE [bullish]
Madison Square Garden Entertainment Corp.
+46.15%
current return
Author Info
ASB Partners invests in cheap, growing, and durable stocks, and shares writeups via their newsletter. Sign up for the newsletter.
Company Info
Madison Square Garden Entertainment Corp., through its subsidiaries, engages in live entertainment business.
Market Cap
$2.1B
Pitch Price
$37.44
Price Target
N/A
Dividend
N/A
EV/EBITDA
13.96
P/E
62.73
EV/Sales
3.45
Sector
Entertainment
Category
growth
ASB Partners Portfolio Holding: Madison Square Garden Entertainment Corp.
MSGE: Iconic NYC venue w/ pricing power. Q3 strong, but stock underperforming. 5% FCF yield. Double-digit Adj. Op. Income growth. 60% rev from ticketing/venue fees. Christmas Spectacular record yields. Venue licensing potential (70% utilization). High-margin sponsorships to improve FY25. 35yr arena lease. Mgmt confident in growth, deleveraging & buybacks. Irreplaceable assets in strong live entertainment market.
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