Jefferies Financial Group Inc. Purchases Shares of 87,400 MSG Entertainment (NYSE:MSGE)

Jefferies Financial Group Inc. acquired a new stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 87,400 shares of the company's stock, valued at approximately $3,111,000. Jefferies Financial Group Inc. owned 0.18% of MSG Entertainment as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MSGE. Sterling Capital Management LLC raised its position in MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after purchasing an additional 1,005 shares in the last quarter. Tower Research Capital LLC TRC raised its position in MSG Entertainment by 26.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after purchasing an additional 504 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in MSG Entertainment during the 4th quarter valued at $205,000. EntryPoint Capital LLC bought a new stake in MSG Entertainment during the 4th quarter valued at $221,000. Finally, Freestone Grove Partners LP bought a new stake in MSG Entertainment during the 4th quarter valued at $233,000. 96.86% of the stock is owned by institutional investors.

Insider Transactions at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the transaction, the insider now directly owns 6,015 shares of the company's stock, valued at $186,224.40. This represents a 91.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 17.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MSGE. Susquehanna began coverage on MSG Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $39.00 target price for the company. Wolfe Research raised 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. Macquarie reissued an "outperform" rating and issued a $45.00 price target on shares of MSG Entertainment in a research report on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price target on MSG Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th.

MSG Entertainment Stock Up 0.8%

Shares of MSGE traded up $0.29 during trading hours on Friday, hitting $38.39. The company had a trading volume of 177,201 shares, compared to its average volume of 356,671. The company 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. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The company's fifty day moving average price is $32.91 and its two-hundred day moving average price is $34.99.

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.