Published on 10 Mar 2024 on Insider Monkey via Yahoo Finance
Madison Square Garden Entertainment Corp. (MSGE) Fell on Earnings Miss
Ariel Investments, an investment management company, released its “Ariel Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. Global markets in 2023 outperformed expectations, led by large-cap tech stocks known as the "magnificent seven." Improving inflation data and dovish comments from the Fed drove a strong finish to the year. Ariel Fund rose +13.41% in the fourth quarter, in line with the +13.35% of the Russell 2500 Index, but short of the +13.76% of the Russell 2500 Value Index. Over the past year, Ariel Fund increased by +15.81%, slightly below the +15.98% of the Russell 2500 Value Index and behind the +17.42% gain of the Russell 2500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Fund featured stocks like Madison Square Garden Entertainment Corp. (NYSE:MSGE) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, Madison Square Garden Entertainment Corp. (NYSE:MSGE) engages in the live entertainment business. On March 8, 2024, Madison Square Garden Entertainment Corp. (NYSE:MSGE) stock closed at $37.97 per share. The one-month return of Madison Square Garden Entertainment Corp. (NYSE:MSGE) was 3.38%, and TYD, its shares gained 19.44% of their value. Madison Square Garden Entertainment Corp. (NYSE:MSGE) has a market capitalization of $1.822 billion.
Ariel Fund stated the following regarding Madison Square Garden Entertainment Corp. (NYSE:MSGE) in its fourth quarter 2023 investor letter: