Miracle Mile Advisors LLC Lowers Stock Holdings in MSG Entertainment (NYSE:MSGE)

Miracle Mile Advisors LLC lessened its stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 38.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,492 shares of the company's stock after selling 13,293 shares during the period. Miracle Mile Advisors LLC owned 0.05% of MSG Entertainment worth $704,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ariel Investments LLC increased its stake in MSG Entertainment by 14.5% during the 4th quarter. Ariel Investments LLC now owns 7,604,543 shares of the company's stock valued at $270,722,000 after purchasing an additional 964,657 shares in the last quarter. Vanguard Group Inc. increased its stake in MSG Entertainment by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock valued at $139,477,000 after purchasing an additional 52,731 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in MSG Entertainment by 10.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company's stock valued at $97,321,000 after purchasing an additional 268,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MSG Entertainment by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company's stock valued at $36,265,000 after purchasing an additional 4,573 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MSG Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 943,475 shares of the company's stock valued at $33,596,000 after purchasing an additional 5,012 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MSGE shares. Wolfe Research upgraded shares of 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. Susquehanna started coverage on shares of MSG Entertainment in a research note on Monday, April 28th. They issued a "positive" rating and a $39.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on shares of MSG Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th.

MSG Entertainment Stock Down 1.4%

Shares of NYSE MSGE traded down $0.51 during trading on Friday, hitting $36.32. The stock had a trading volume of 238,369 shares, compared to its average volume of 354,030. The company has a market capitalization of $1.47 billion, a PE ratio of 13.81, a PEG ratio of 5.09 and a beta of 0.40. The firm has a fifty day moving average of $34.84 and a two-hundred day moving average of $34.81. 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 has a 12 month low of $28.29 and a 12 month high of $44.14.

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.