Invesco Ltd. Has $1.40 Million Stock Position in MSG Entertainment (NYSE:MSGE)

Invesco Ltd. decreased its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 79.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,341 shares of the company's stock after selling 153,798 shares during the quarter. Invesco Ltd. owned 0.08% of MSG Entertainment worth $1,401,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of MSG Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock worth $139,477,000 after buying an additional 52,731 shares during the period. Geode Capital Management LLC boosted its stake in MSG Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 943,475 shares of the company's stock worth $33,596,000 after purchasing an additional 5,012 shares during the period. New York State Common Retirement Fund grew its position in MSG Entertainment by 0.6% during 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 in the last quarter. Alliancebernstein L.P. raised its stake in MSG Entertainment by 81.7% during the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company's stock valued at $14,704,000 after purchasing an additional 185,670 shares during the period. Finally, Norges Bank purchased a new stake in shares of MSG Entertainment in the fourth quarter valued at $13,454,000. Institutional investors own 96.86% of the company's stock.

MSG Entertainment Stock Up 5.1 %

MSGE traded up $1.74 during trading on Tuesday, reaching $35.71. 443,312 shares of the stock traded hands, compared to its average volume of 365,382. The stock's 50-day simple moving average is $32.18 and its two-hundred day simple moving average is $35.22. 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 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 $1.45 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a net margin of 13.15% and a negative return on equity of 323.63%. As a group, equities research analysts expect that MSG Entertainment will post 1.04 EPS for the current year.

Insiders Place Their Bets

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MSGE. Wolfe Research raised MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price target on the stock in a research report on Tuesday, March 11th. Susquehanna started coverage on shares of MSG Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $39.00 price target for the company. Finally, Macquarie restated an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

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.