First Trust Advisors LP boosted its position in MSG Entertainment (NYSE:MSGE - Free Report) by 43.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,039 shares of the company's stock after purchasing an additional 34,821 shares during the quarter. First Trust Advisors LP owned about 0.24% of MSG Entertainment worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of MSG Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock valued at $139,477,000 after purchasing an additional 52,731 shares during the period. Geode Capital Management LLC grew its holdings in MSG Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 943,475 shares of the company's stock valued at $33,596,000 after buying an additional 5,012 shares during the period. New York State Common Retirement Fund increased its stake in shares of MSG Entertainment by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock valued at $16,811,000 after acquiring an additional 2,971 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of 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 acquiring an additional 185,670 shares during the period. Finally, Norges Bank acquired a new stake in shares of MSG Entertainment in the fourth quarter worth approximately $13,454,000. 96.86% of the stock is currently owned by hedge funds and other institutional investors.
MSG Entertainment Stock Performance
Shares of MSGE stock opened at $33.51 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The company has a market cap of $1.36 billion, a PE ratio of 12.74, a P/E/G ratio of 5.09 and a beta of 0.22. The company's fifty day simple moving average is $32.15 and its 200-day simple moving average is $35.39. 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 issued its quarterly earnings data on Thursday, February 6th. The company reported $1.56 EPS for the quarter, missing analysts' consensus estimates 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 research analysts anticipate that MSG Entertainment will post 1.04 EPS for the current year.
Insider Buying and Selling at MSG Entertainment
In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment 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 sale, the insider now directly owns 6,015 shares of the company's stock, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.85% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
MSGE has been the topic of a number of recent analyst reports. Susquehanna initiated coverage on shares of MSG Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $39.00 price target on the stock. Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a report on Tuesday, March 11th. Finally, Macquarie restated an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th.
Check Out Our Latest Stock Analysis on MSGE
About MSG Entertainment
(
Free Report)
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.
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