Nuveen Asset Management LLC Sells 539,651 Shares of MSG Entertainment (NYSE:MSGE)

Nuveen Asset Management LLC cut its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,849 shares of the company's stock after selling 539,651 shares during the period. Nuveen Asset Management LLC owned 0.40% of MSG Entertainment worth $6,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC raised its position in shares of MSG Entertainment by 785.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after buying an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in MSG Entertainment by 26.5% during 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 in the last quarter. Pictet Asset Management Holding SA bought a new stake in MSG Entertainment in the 4th quarter valued at $205,000. EntryPoint Capital LLC bought a new stake in MSG Entertainment in the 4th quarter valued at $221,000. Finally, Freestone Grove Partners LP purchased a new stake in MSG Entertainment in the 4th quarter worth $233,000. 96.86% of the stock is currently owned by institutional investors.

Insider Activity at MSG Entertainment

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

Analysts Set New Price Targets

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

MSG Entertainment Trading Up 0.2%

MSGE traded up $0.07 on Tuesday, hitting $37.29. The company had a trading volume of 332,968 shares, compared to its average volume of 356,329. The company has a market cap of $1.51 billion, a PE ratio of 14.18, a PEG ratio of 5.09 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The business's fifty day simple moving average is $33.93 and its 200 day simple moving average is $34.73. MSG Entertainment has a 12-month low of $28.29 and a 12-month high of $44.14.

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.