Federated Hermes Inc. Has $2.16 Million Stock Position in MSG Entertainment (NYSE:MSGE)

Federated Hermes Inc. lowered its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 89.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,607 shares of the company's stock after selling 524,680 shares during the period. Federated Hermes Inc. owned approximately 0.13% of MSG Entertainment worth $2,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its position in MSG Entertainment by 111.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock valued at $1,063,000 after purchasing an additional 15,756 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of MSG Entertainment by 16.5% in the fourth quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock worth $296,000 after buying an additional 1,178 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in MSG Entertainment by 8.0% in the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock worth $712,000 after purchasing an additional 1,479 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of MSG Entertainment by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock worth $16,811,000 after buying an additional 2,971 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $328,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 96.86% of the company's stock.

MSG Entertainment Price Performance

MSG Entertainment stock traded up $0.59 on Friday, reaching $30.66. The company's stock had a trading volume of 156,863 shares, compared to its average volume of 372,487. The business's fifty day moving average price is $33.27 and its 200 day moving average price is $36.16. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 5.09 and a beta of 0.22. MSG Entertainment has a twelve month low of $28.29 and a twelve month 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%. Equities analysts expect that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MSGE. Macquarie reiterated an "outperform" rating and issued 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 report on Tuesday, March 11th.

Insiders Place Their Bets

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business'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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.85% of the company's stock.

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.