MSG Entertainment (NYSE:MSGE) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 73.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MSGE. Bleakley Financial Group LLC grew its position in shares of MSG Entertainment by 16.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock valued at $296,000 after buying an additional 1,178 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of MSG Entertainment by 8.0% during the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock valued at $712,000 after buying an additional 1,479 shares during the last quarter. New York State Common Retirement Fund grew its position in 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 worth $16,811,000 after purchasing an additional 2,971 shares during the last quarter. Handelsbanken Fonder AB grew its position in MSG Entertainment by 21.1% in 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 last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in MSG Entertainment by 131.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company's stock worth $563,000 after purchasing an additional 8,983 shares during the last quarter. Institutional investors own 96.86% of the company's stock.

MSG Entertainment Price Performance

Shares of MSG Entertainment stock traded up $0.37 on Friday, hitting $37.17. The company had a trading volume of 274,789 shares, compared to its average volume of 355,978. The business has a 50-day simple moving average of $33.79 and a 200-day simple moving average of $34.72. 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 company has a market cap of $1.51 billion, a PE ratio of 14.13, a PEG ratio of 5.09 and a beta of 0.22. MSG Entertainment has a 52 week low of $28.29 and a 52 week high of $44.14.

Wall Street Analysts Forecast Growth

MSGE has been the subject of several recent analyst reports. 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 report on Tuesday, March 11th. 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 report on Wednesday, May 7th. Macquarie restated an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th. Finally, Susquehanna initiated coverage on shares of MSG Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $39.00 target price for the company.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction that occurred 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 in the company, valued at $186,224.40. This trade represents a 91.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.85% of the company's 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.