Dendur Capital LP Acquires New Position in MSG Entertainment (NYSE:MSGE)

Dendur Capital LP bought a new stake in MSG Entertainment (NYSE:MSGE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 147,644 shares of the company's stock, valued at approximately $5,256,000. MSG Entertainment accounts for about 0.5% of Dendur Capital LP's investment portfolio, making the stock its 17th biggest position. Dendur Capital LP owned approximately 0.31% of MSG Entertainment at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MSGE. Sterling Capital Management LLC lifted its stake in shares of MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after purchasing an additional 1,005 shares during the period. Tower Research Capital LLC TRC boosted its holdings in MSG Entertainment by 26.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after acquiring an additional 504 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in MSG Entertainment during the 4th quarter worth $205,000. EntryPoint Capital LLC acquired a new stake in MSG Entertainment during the 4th quarter valued at $221,000. Finally, OFI Invest Asset Management bought a new stake in shares of MSG Entertainment in the fourth quarter worth $270,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.96, for a total value of $2,078,747.28. Following the completion of the transaction, the insider now directly owns 6,015 shares of the company's stock, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.85% of the stock is owned by company insiders.

MSG Entertainment Price Performance

NYSE:MSGE traded down $0.01 during trading hours on Monday, reaching $32.65. 51,319 shares of the company were exchanged, compared to its average volume of 370,875. MSG Entertainment has a 1-year low of $28.29 and a 1-year high of $44.14. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.41, a P/E/G ratio of 5.09 and a beta of 0.22. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day moving average of $32.47 and a 200 day moving average of $35.63.

MSG Entertainment (NYSE:MSGE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 323.63% and a net margin of 13.15%. Research analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MSGE. Wolfe Research raised MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price target for the company in a research note on Tuesday, March 11th. Macquarie restated an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th. Finally, Susquehanna initiated coverage on shares of MSG Entertainment in a report on Monday. They set a "positive" rating and a $39.00 price objective on the stock.

MSG Entertainment Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.