MSG Entertainment (NYSE:MSGE - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 1,470,000 shares, a decline of 14.0% from the April 30th total of 1,710,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 320,100 shares, the short-interest ratio is presently 4.6 days.
Insider Buying and Selling at MSG Entertainment
In related 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 value of $2,078,747.28. Following the completion of the transaction, the insider now directly owns 6,015 shares of the company's stock, valued at $186,224.40. The trade was a 91.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 17.85% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Ariel Investments LLC raised its stake in shares of MSG Entertainment by 2.2% during the 1st quarter. Ariel Investments LLC now owns 7,775,373 shares of the company's stock worth $254,566,000 after purchasing an additional 170,830 shares in the last quarter. Vanguard Group Inc. boosted its holdings in MSG Entertainment by 1.4% in the 4th 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. Jericho Capital Asset Management L.P. boosted its stake in shares of MSG Entertainment by 5.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,885,724 shares of the company's stock valued at $94,479,000 after buying an additional 152,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of MSG Entertainment by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company's stock worth $36,265,000 after purchasing an additional 4,573 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in MSG Entertainment by 14.9% during the first quarter. Assenagon Asset Management S.A. now owns 982,405 shares of the company's stock worth $32,164,000 after buying an additional 127,700 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company's stock.
MSG Entertainment Stock Down 0.2%
NYSE:MSGE traded down $0.08 during trading hours on Friday, reaching $37.82. 277,860 shares of the stock were exchanged, compared to its average volume of 355,246. The stock has a market cap of $1.54 billion, a PE ratio of 14.38, a PEG ratio of 5.09 and a beta of 0.40. MSG Entertainment has a twelve month low of $28.29 and a twelve month high of $44.14. The firm has a 50 day moving average of $34.10 and a 200 day moving average of $34.76. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.
Wall Street Analysts Forecast Growth
MSGE has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of MSG Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. 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. Susquehanna began coverage on MSG Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $39.00 price objective on the stock. Finally, Macquarie reiterated an "outperform" rating and issued a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th.
Check Out Our Latest Analysis on MSG Entertainment
About MSG Entertainment
(
Get 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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