MSG Entertainment (NYSE:MSGE) Shares Bought by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. raised its position in MSG Entertainment (NYSE:MSGE - Free Report) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,733,724 shares of the company's stock after purchasing an additional 268,000 shares during the quarter. MSG Entertainment comprises 1.4% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 24th biggest position. Jericho Capital Asset Management L.P. owned 5.69% of MSG Entertainment worth $97,321,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after buying an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MSG Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after acquiring an additional 504 shares during the period. Pictet Asset Management Holding SA acquired a new position in shares of MSG Entertainment in the 4th quarter worth approximately $205,000. EntryPoint Capital LLC purchased a new position in shares of MSG Entertainment during the 4th quarter worth approximately $221,000. Finally, OFI Invest Asset Management purchased a new position in shares of MSG Entertainment during the 4th quarter worth approximately $270,000. Hedge funds and other institutional investors own 96.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Susquehanna assumed coverage on MSG Entertainment in a research note on Monday. They set a "positive" rating and a $39.00 price target on the stock. Wolfe Research raised MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a research note on Tuesday, March 11th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction 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 transaction, the insider now owns 6,015 shares of the company's stock, valued at $186,224.40. This represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 17.85% of the company's stock.

MSG Entertainment Stock Up 1.4 %

MSGE stock traded up $0.44 during midday trading on Thursday, hitting $32.88. The company's stock had a trading volume of 212,424 shares, compared to its average volume of 369,146. The firm has a 50-day simple moving average of $32.18 and a 200-day simple moving average of $35.46. The firm has a market capitalization of $1.33 billion, a P/E ratio of 12.50, a PEG ratio of 5.09 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a 52-week low of $28.29 and a 52-week high of $44.14.

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

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.