Kerrisdale Advisers LLC Has $1.55 Million Stock Position in MSG Entertainment (NYSE:MSGE)

Kerrisdale Advisers LLC decreased its stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,495 shares of the company's stock after selling 34,451 shares during the period. Kerrisdale Advisers LLC owned 0.09% of MSG Entertainment worth $1,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSGE. Norges Bank bought a new stake in MSG Entertainment during the 4th quarter worth about $13,454,000. Alliancebernstein L.P. lifted its position in MSG Entertainment by 81.7% during the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company's stock worth $14,704,000 after buying an additional 185,670 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in MSG Entertainment by 108.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company's stock worth $12,490,000 after buying an additional 182,478 shares in the last quarter. Dendur Capital LP bought a new stake in MSG Entertainment during the 4th quarter worth about $5,256,000. Finally, JPMorgan Chase & Co. lifted its position in MSG Entertainment by 77.5% during the 4th quarter. JPMorgan Chase & Co. now owns 139,742 shares of the company's stock worth $4,975,000 after buying an additional 61,028 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company's stock.

MSG Entertainment Stock Performance

MSG Entertainment stock traded up $0.07 during trading hours on Tuesday, hitting $32.93. The company had a trading volume of 35,575 shares, compared to its average volume of 370,116. The firm has a market cap of $1.35 billion, a PE ratio of 12.50, a PEG ratio of 5.09 and a beta of 0.22. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The firm has a 50-day moving average of $32.38 and a 200 day moving average of $35.57.

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

Insider Transactions at MSG Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business's stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on MSGE shares. Macquarie reissued an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a research report on Monday, February 10th. 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 note on Tuesday, March 11th. Finally, Susquehanna assumed coverage on shares of MSG Entertainment in a research note on Monday. They issued a "positive" rating and a $39.00 target price for the company.

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.