Walleye Capital LLC Cuts Stock Position in MSG Entertainment (NYSE:MSGE)

Walleye Capital LLC lessened its position in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 71.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company's stock after selling 252,559 shares during the quarter. Walleye Capital LLC owned about 0.21% of MSG Entertainment worth $3,560,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of MSG Entertainment by 785.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after acquiring an additional 1,005 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of MSG Entertainment in the 4th quarter worth approximately $205,000. EntryPoint Capital LLC bought a new position in shares of MSG Entertainment during the 4th quarter valued at approximately $221,000. OFI Invest Asset Management purchased a new stake in MSG Entertainment during the 4th quarter valued at $270,000. Finally, KLP Kapitalforvaltning AS bought a new stake in MSG Entertainment in the fourth quarter worth $289,000. Institutional investors own 96.86% of the company's stock.

MSG Entertainment Trading Up 3.7 %

Shares of NYSE:MSGE traded up $1.12 on Wednesday, hitting $31.64. 46,652 shares of the company's stock were exchanged, compared to its average volume of 361,118. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The business's 50 day simple moving average is $32.79 and its two-hundred day simple moving average is $35.88.

MSG Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) 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%. Analysts anticipate that MSG Entertainment will post 1.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Macquarie restated an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th. Wolfe Research upgraded 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 firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the transaction, the insider now owns 6,015 shares of the company's stock, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.85% of the stock is currently owned by company insiders.

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.