Madison Square Garden Entertainment (MSGE)
Operator of Madison Square Garden venues and producer of the Rockettes’ Christmas Spectacular.
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Operates Madison Square Garden and a theater portfolio, hosts concerts and sports, and produces the Radio City Rockettes’ Christmas Spectacular. Revenue comes from bookings and promotions, sponsorships, suites, concessions, merchandise, and long-term arena licenses for Knicks and Rangers home games, with operations concentrated in New York.
Operates a U.S. live-entertainment portfolio centered on Madison Square Garden, Infosys Theater, Radio City Music Hall, Beacon Theatre, and The Chicago Theatre. The venues host concerts, family shows, special events, and sports; bookings, hospitality, sponsorships, concessions, merchandise, and licensing turn attendance into revenue.
Owns and produces the Rockettes’ Christmas Spectacular exclusively at Radio City and licenses the Garden to the Knicks and Rangers for home games. Artist and promoter relationships, varied venue sizes, and premium inventory support repeat bookings and multi-night runs.
Operations and assets are U.S.-based and concentrated in New York. Results depend on event calendars, attendance, the seasonal Christmas Spectacular, and agreements with MSG Sports. The Garden operates under a New York City zoning special permit; a non-binding Penn Station redevelopment agreement contemplates transferring Infosys Theater while keeping the arena operational.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 20, 2026 | Piper Sandler | Initiate | Rating: —Target: — | Target: $86 |
| Aug 14, 2026 | BTIG | Reiterate | Rating: —Target: — | Target: $100 |
| Aug 13, 2026 | Susquehanna | Reiterate | Rating: —Target: $80 | Target: $103 |
| Aug 12, 2026 | Guggenheim | Reiterate | Rating: —Target: $76 | Target: $103 |
| Jul 9, 2026 | Goldman Sachs | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $552.0M · Total debt $913.3M · Total assets $4.04B · Shareholders' equity $2.23B
- Revenue
- $196.3M
- Operating income
- −$33.4M
- Net income
- −$10.0M
No dividends on record.
| Institutions | ≈ 86.80% | 41.06M shares | |
|---|---|---|---|
| 292 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 9.17% | 4.34M shares | |
| 1 holder · as of Mar 9, 2026 | |||
| Strategic holders | 6.24% | 2.95M shares | |
| 5 holders · as of May 14, 2026 | |||
| Adds to | 102.21% | ||
47.31M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 102.21%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ariel Investments, LLCInstitution | 11.21% | 5.30M | as of Jun 30, 2026 |
James Lawrence Dolan1Insiderdirector, officer, other: Executive Chairman & CEO | 9.17% | 424,815 A · 281,583 B | filed Mar 9, 2026 |
Jericho Capital Asset Management L.P.Institution | 7.74% | 3.66M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.60% | 3.12M | as of Jun 30, 2026 |
Starlite Capital IncInstitution | 5.01% | 2.37M | as of Jun 30, 2026 |
- The filed share classes (A, B, COMMON) could not be matched to the company's, so no percentage.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Philip Gerard D'Ambrosio | officer: EVP and Treasurer | −9,907 | $74.48 |
| Feb 20, 2026 | Charles P. Dolan | director | −19,311 | $63.76 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Madison Square Garden Entertainment | $78.56 | −2.01% | $3.79B | 58.1 | 32.3 | 3.6 | +27.4% |
| Live Nation Entertainment | $170.01 | +0.10% | $39.52B | — | 141.8 | 1.5 | +9.4% |
| StubHub | $5.43 | −5.49% | $2.01B | — | 11.4 | 1.0 | +33.2% |
| Sphere Entertainment | $139.48 | −1.71% | $5.11B | — | — | 3.8 | −20.5% |
| TKO Group | $189.69 | +0.43% | $14.16B | 65.1 | 34.0 | 2.7 | +18.2% |
| Ryman Hospitality Properties | $121.52 | −0.02% | $7.67B | 29.6 | 25.9 | 2.8 | +13.6% |
| Vivid Seats | $3.82 | −2.68% | $44.1M | — | — | 0.1 | −9.6% |
| Seaport Entertainment Group | $23.83 | −0.73% | $307.2M | — | — | 2.5 | −13.9% |
| Venu | $1.47 | −5.77% | $93.7M | — | — | 6.0 | +7.0% |
| Median | 47.4 | 29.9 | 2.6 | +8.2% |