MSG Entertainment (NYSE:MSGE) Now Covered by Susquehanna

Investment analysts at Susquehanna initiated coverage on shares of MSG Entertainment (NYSE:MSGE - Get Free Report) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a "positive" rating and a $39.00 price target on the stock. Susquehanna's target price would suggest a potential upside of 20.33% from the stock's previous close.

Several other research firms have also recently weighed in on MSGE. Wolfe Research upgraded shares of MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price objective for the company in a research report on Tuesday, March 11th. Macquarie reaffirmed an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th.

MSG Entertainment Price Performance

Shares of MSGE stock traded down $0.37 during trading hours on Monday, hitting $32.41. 271,086 shares of the company's stock were exchanged, compared to its average volume of 370,661. The stock's 50-day moving average is $32.23 and its 200-day moving average is $35.53. 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 52 week low of $28.29 and a 52 week high of $44.14. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE - Get Free Report) last posted its quarterly earnings data 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%. As a group, research analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.

Insider Buying and Selling at MSG Entertainment

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 sale, the insider now owns 6,015 shares in the company, valued at $186,224.40. This represents a 91.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 17.85% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in shares of MSG Entertainment during the first quarter worth about $31,000. Sterling Capital Management LLC raised its holdings in MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock worth $40,000 after buying an additional 1,005 shares during the period. NBC Securities Inc. lifted its stake in MSG Entertainment by 136,900.0% in the first quarter. NBC Securities Inc. now owns 1,370 shares of the company's stock valued at $44,000 after buying an additional 1,369 shares in the last quarter. GAMMA Investing LLC lifted its stake in MSG Entertainment by 1,632.3% in the first quarter. GAMMA Investing LLC now owns 2,685 shares of the company's stock valued at $82,000 after buying an additional 2,530 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake 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 valued at $86,000 after buying an additional 504 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

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.