Invesco Ltd. Lowers Position in MSG Entertainment (NYSE:MSGE)

Invesco Ltd. decreased its holdings in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 79.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,341 shares of the company's stock after selling 153,798 shares during the period. Invesco Ltd. owned approximately 0.08% of MSG Entertainment worth $1,401,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA bought a new stake in shares of MSG Entertainment in the 4th quarter worth $205,000. EntryPoint Capital LLC purchased a new stake in MSG Entertainment in the 4th quarter valued at about $221,000. OFI Invest Asset Management bought a new position in shares of MSG Entertainment during the 4th quarter worth approximately $270,000. KLP Kapitalforvaltning AS purchased a new position in shares of MSG Entertainment in the 4th quarter worth approximately $289,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of MSG Entertainment by 16.5% in the fourth quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock valued at $296,000 after acquiring an additional 1,178 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

MSG Entertainment Stock Performance

MSG Entertainment stock traded up $0.77 during midday trading on Friday, reaching $33.51. The stock had a trading volume of 201,171 shares, compared to its average volume of 368,321. The firm has a market capitalization of $1.36 billion, a PE ratio of 12.74, a P/E/G ratio of 5.09 and a beta of 0.22. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14. 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 firm's 50-day moving average price is $32.15 and its 200 day moving average price is $35.39.

MSG Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.56 EPS for the quarter, missing analysts' consensus estimates 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, research analysts predict that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company's stock, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.85% of the stock is owned by company insiders.

About MSG Entertainment

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.