Director Frederic Salerno Acquires Shares of Madison Square Garden Entertainment Corp (MSGE)

On August 20, 2024, Frederic Salerno, a Director at Madison Square Garden Entertainment Corp (NYSE:MSGE), purchased 5,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider’s holdings to 17,348 shares.

Madison Square Garden Entertainment Corp is engaged in the entertainment business, primarily in the operations of live sports and entertainment events. The company’s portfolio includes renowned venues such as Madison Square Garden and The Chicago Theatre, among others.

The shares were bought at a price of $41.25 each, valuing the transaction at approximately $206,250. Following this purchase, the market cap of MSGE stands at $1.97 billion.

The company’s current price-earnings ratio is 13.40, which is below both the industry median of 18.265 and the historical median for the company. This valuation metric is a critical indicator often used by investors to determine the market’s perception of the stock’s growth and profitability prospects.

Insider transactions provide valuable insights into how the top executives and directors view the stock’s value. Over the past year, MSGE has seen 1 insider buy and 5 insider sells. The recent purchase by Director Frederic Salerno might signal a positive outlook on the stock’s future performance.

For more detailed information on MSGE’s stock performance and valuation metrics such as price-sales ratio, price-book ratio, and price-to-free cash flow, visit the GF Value page.

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