Jacobs Levy Equity Management Inc. Sells 38,732 Shares of MSG Entertainment (NYSE:MSGE)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 534,884 shares of the company's stock after selling 38,732 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.11% of MSG Entertainment worth $19,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. 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 worth $40,000 after acquiring an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in MSG Entertainment by 26.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock worth $86,000 after purchasing an additional 504 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in MSG Entertainment in the fourth quarter worth approximately $205,000. EntryPoint Capital LLC bought a new stake in MSG Entertainment in the fourth quarter worth approximately $221,000. Finally, Freestone Grove Partners LP bought a new stake in MSG Entertainment in the fourth quarter worth approximately $233,000. 96.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MSGE has been the subject of a number of research analyst reports. Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a report on Tuesday, March 11th. Macquarie reiterated an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th. 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. Finally, Susquehanna initiated coverage on MSG Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $39.00 target price for the company.

MSG Entertainment Trading Up 3.5%

Shares of MSG Entertainment stock opened at $37.44 on Tuesday. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. MSG Entertainment has a 52 week low of $28.29 and a 52 week high of $44.14. The stock has a 50 day moving average price of $32.42 and a two-hundred day moving average price of $35.01. The stock has a market capitalization of $1.52 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22.

Insider Buying and Selling at MSG Entertainment

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

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.

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