Deutsche Bank AG Purchases 10,863 Shares of MSG Entertainment (NYSE:MSGE)

Deutsche Bank AG increased its holdings in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 49.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,672 shares of the company's stock after purchasing an additional 10,863 shares during the period. Deutsche Bank AG owned approximately 0.07% of MSG Entertainment worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in MSG Entertainment by 111.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock valued at $1,063,000 after purchasing an additional 15,756 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in MSG Entertainment by 16.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock worth $296,000 after acquiring an additional 1,178 shares in the last quarter. Principal Financial Group Inc. grew its holdings in MSG Entertainment by 8.0% during the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock worth $712,000 after acquiring an additional 1,479 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of MSG Entertainment by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock valued at $16,811,000 after buying an additional 2,971 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $328,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 96.86% of the company's stock.

Insider Activity at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.96, for a total value of $2,078,747.28. Following the transaction, the insider now directly owns 6,015 shares of the company's stock, valued at $186,224.40. The trade was a 91.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MSGE shares. Susquehanna initiated coverage on shares of MSG Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $39.00 target price for the company. Wolfe Research raised shares of MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a report 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. Finally, The Goldman Sachs Group raised their target price on shares of MSG Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th.

MSG Entertainment Stock Performance

MSG Entertainment stock traded down $0.20 during mid-day trading on Friday, hitting $36.60. 3,901 shares of the company's stock traded hands, compared to its average volume of 354,357. The firm has a 50 day simple moving average of $33.71 and a two-hundred day simple moving average of $34.73. MSG Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $44.14. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 13.92, 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.

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.