Jacobs Levy Equity Management Inc. Has $19.04 Million Stock Holdings in MSG Entertainment (NYSE:MSGE)

Jacobs Levy Equity Management Inc. lowered its position in 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. The fund owned 534,884 shares of the company's stock after selling 38,732 shares during the period. Jacobs Levy Equity Management Inc. owned 1.11% of MSG Entertainment worth $19,042,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ariel Investments LLC raised its position in MSG Entertainment by 14.5% in the 4th quarter. Ariel Investments LLC now owns 7,604,543 shares of the company's stock worth $270,722,000 after purchasing an additional 964,657 shares during the last quarter. Norges Bank bought a new position in MSG Entertainment in the 4th quarter worth approximately $13,454,000. Jericho Capital Asset Management L.P. raised its position in MSG Entertainment by 10.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company's stock worth $97,321,000 after purchasing an additional 268,000 shares during the last quarter. Alliancebernstein L.P. raised its position in MSG Entertainment by 81.7% in the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company's stock worth $14,704,000 after purchasing an additional 185,670 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in MSG Entertainment by 108.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company's stock worth $12,490,000 after purchasing an additional 182,478 shares during the last quarter. Institutional investors own 96.86% of the company's stock.

Wall Street Analysts Forecast Growth

MSGE has been the subject of several research analyst reports. Macquarie restated an "outperform" rating and issued a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th. The Goldman Sachs Group boosted their price objective 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. 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. Finally, Susquehanna started coverage on shares of 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 0.8%

Shares of MSG Entertainment stock traded up $0.29 on Friday, hitting $38.39. 177,201 shares of the company's stock traded hands, compared to its average volume of 356,768. The firm's 50-day moving average price is $32.91 and its two-hundred day moving average price is $34.89. The stock has a market capitalization of $1.56 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $186,224.40. This represents a 91.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.