Jefferies Financial Group Inc. Takes Position in MSG Entertainment (NYSE:MSGE)

Jefferies Financial Group Inc. 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 87,400 shares of the company's stock, valued at approximately $3,111,000. Jefferies Financial Group Inc. owned 0.21% of MSG Entertainment as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MSGE. Sterling Capital Management LLC raised its stake in shares of MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock worth $40,000 after buying an additional 1,005 shares in the last quarter. 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. State of Wyoming raised its position in MSG Entertainment by 216.8% in the fourth quarter. State of Wyoming now owns 4,026 shares of the company's stock valued at $143,000 after purchasing an additional 2,755 shares during the period. Pictet Asset Management Holding SA purchased a new position in MSG Entertainment in the fourth quarter valued at about $205,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of MSG Entertainment during the fourth quarter worth about $221,000. 96.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MSG Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 6,015 shares of the company's stock, valued at approximately $186,224.40. This represents a 91.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note on Tuesday, March 11th. Macquarie reissued an "outperform" rating and set a $45.00 target price on shares of MSG Entertainment in a research note on Monday, February 10th. Susquehanna assumed coverage on shares of MSG Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $39.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on shares of MSG Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, May 7th.

MSG Entertainment Trading Up 1.0%

MSGE traded up $0.37 during trading on Friday, reaching $37.17. 274,789 shares of the company's stock were exchanged, compared to its average volume of 355,978. MSG Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $44.14. The firm has a market capitalization of $1.51 billion, a PE ratio of 14.13, 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 quick ratio of 0.54 and a current ratio of 0.54. The company's fifty day moving average price is $33.79 and its 200-day moving average price is $34.72.

MSG Entertainment Company 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.