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Madison Square Garden Entertainment Corp. (MSGE)

NYSE - NYSE Delayed Price. Currency in USD
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69.54-0.41 (-0.59%)
At close: 4:00PM EDT
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  • c
    contrarian
    Sum of the parts analysis, conservatively calculated:

    MSG Arena 1500m
    Radio City Music Hall/Xmas Spectacular 200m
    Beacon Theater, Hulu, Chicago Theater, Rockettes 200m
    Tao/Hakkasan 400m (way below purchase prices)
    Networks 800m
    Cash 1170m
    air rights 500m (probably triple due to Penn Station renovation and Vornado activities)
    Sphere 0m (may fail)

    - 954m debt

    = 3.616 bn USD enterprise value minimum. Equates to 50% upside minimum in the stock valuation.
  • B
    Bobby
    Significantly under fair value. Revenue is really picking quarter by quarter (more than doubled qoq). Earnings are expected to grow well over 100% with revenue growth of 37% per year from here. Price/book is under 1 now. MSGE beginning to reopen just about everything now.
  • J
    James
    John Rogers Ariel funds doubled down on MSGE in Q3. Now it’s largest holding. Also took a position in sports.
  • E
    Eddie
    Knicks season starts in 2 weeks... Covid restrictions ease November 1st..... This stock is a Ewing slam dunk to go to 80 and probably much higher which is why I bought options and more stock at these levels.
  • E
    Eddie
    Boom! Multi year Verizon deal!!
  • B
    Bobby
    The China crackdown should bode well for MSGE. Places where MSGE has a presence like NYC, Vegas, and London should see a big increase in tourism due to China's actions against pretty much anything entertainment related.
  • J
    Janet
    good lord.
  • E
    Eddie
    Stock is at least $95-105 fair value
  • G
    Gregg
    In 6 months you'll wish you bought in today.
  • c
    contrarian
    Here's another fun asset - MSGE holds stock in Draftkings and Townsquare Media.
  • J
    Janet
    they used the fcf from msgn to refinance the 7% debt notes msge took out during the pandemic. wow. that's fantastic.
  • r
    ramzi
    Why the drop today?
  • A
    Anonymous
    Thank you, Ariel Investments (John Rogers & Charles Bobrinskoy), great value investors
  • E
    Eddie
    MSGE is a great asset to play for a reopen
  • O
    Otis Daytrader
    This is MSGE's big project due to open in 2023 and another in the works for London. Building was delayed when covid struck, which partly explains the price decline from $120 down to $60. Now with FDA news approving Pfizer vaccine, future for live events looks rosy once more. https://www.msgsphere.com/#about
    The MSG Sphere in Las Vegas brings a new entertainment venue to the Venetian Resort. Learn more about the Sphere's construction, location, & more.
    The MSG Sphere in Las Vegas brings a new entertainment venue to the Venetian Resort. Learn more about the Sphere's construction, location, & more.
    www.msgsphere.com
  • A
    Andrew
    Glad I have held through these painful last 3 months for the stock. Hoping for this positive momentum to continue.
  • c
    contrarian
    Cash went up. Buying today. Second biggest position after a distressed mall operator. One out of six.
  • J
    James
    Trading close to half of book value with $1.1B of cash on hand. If looked as a real-estate play its a no brainer. Uncertainty is high due to delta variant - but risk is low. Dhando investment
  • S
    Shorty McShortBear
    Eagerly awaiting the MSGE earnings release this morning. It should come nice and early, 6 AM ET. The Conference Call is not until 10:00 AM, though. Interesting that the company chooses to wait until after the regular session opens, for their CC. I think some companies do this because they are anticipating a stock price drop in direct response to their ER, and the plan is to try to talk up the price via positive and enthusiastic forward expectation... Is that what we have at work here?? I dunno. But could very well be.

    Regardless, I am very happy to be Short a lot of shares at $62.22. I think the earnings numbers will be weak and formal Guidance will not be given, or, if the company is honest, it will be weak too, because this company is at the complete mercy of how Covid-19 evolves over the next 6-18 months.

    Covid is NOT going away. And over the weekend I came to the firm understanding that no matter what leaders of government are saying and will continue to say, none of the Coronavirus vaccines currently available, WORK. They simply do NOT work. You get the vaccine, and yet you can still easily get the virus afterwards. This renders the vaccine nothing more than a mental placebo for the masses. IMO, of course. :-)

    And examining the MSGE website, raises the question of whether this billion+ dollar "Sphere" that the company is building, will have a retractable roof that can be opened on top for events. Anybody know?? If not, I think that is a terrible design flaw for a brand-new, state of the art, UNBUILT arena that can be expected to be in service for many decades in the future, given the fact that the Coronavirus is absolutely out of control right now and nobody knows if or when it will ever become fully controlled.

    Feeling even more Bearish than usual this morning, and looking ahead to my next Short Sell later this afternoon, I have PANW, PDD, and BMO at the top of my list. If only PANW was trading higher, at the +$380 level, I think I would definitely go with her. But she is not, and so PDD is ranking right next to PANW as a great Pure Earnings Short Sell. Will make a final decision later today.
  • J
    James
    Good day!