On August 20, 2024, Frederick Salerno, Director of Madison Square Garden Entertainment, Inc. (NYSE:MSGE), bought 5,000 shares of the company’s stock, as reported in a recent SEC filing. This transaction increased the insider’s holdings to 17,348 shares.
Madison Square Garden Entertainment, Inc. is engaged in the entertainment business, primarily focused on the operation of live sports and entertainment events. The company’s portfolio includes well-known venues such as Madison Square Garden and the Chicago Theatre.
The shares were purchased at $41.25 per share, for a transaction value of approximately $206,250. The purchase gives MSGE a market capitalization of $1.97 billion.
The company’s current price-to-earnings ratio of 13.40 is below both the industry average of 18.265 and the company’s historical average. This valuation metric is a key indicator frequently used by investors to gauge the market’s perception of a stock’s growth and profitability prospects.
Insider transactions can be a valuable source of insight into how top officers and directors view the value of a stock. Over the past year, MSGE has seen 1 insider purchases and 5 insider sales. The recent purchase by Director Frederic Salerno could signal a positive outlook for the stock’s future performance.
Director Frederick Salerno acquires stake in Madison Square Garden Entertainment, Inc. (MSGE)
For more information on MSGE’s stock price performance and valuation metrics such as price-to-sales multiple, price-to-book multiple and price-to-free cash flow multiple, please visit the GF Value page.
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