MSG Entertainment (NYSE:MSGE) Short Interest Down 14.0% in May

MSG Entertainment (NYSE:MSGE - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 1,470,000 shares, a decrease of 14.0% from the April 30th total of 1,710,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 320,100 shares, the short-interest ratio is currently 4.6 days.

Insider Buying and Selling at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business's stock in a transaction on 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MSG Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in MSG Entertainment in the first quarter worth $1,468,000. Dynamic Technology Lab Private Ltd bought a new stake in MSG Entertainment in the first quarter worth $210,000. Millennium Management LLC bought a new stake in MSG Entertainment in the first quarter worth $4,994,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MSG Entertainment by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,679 shares of the company's stock worth $775,000 after purchasing an additional 1,193 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in 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 worth $94,479,000 after purchasing an additional 152,000 shares in the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MSGE shares. Wolfe Research raised shares of MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a research note on Tuesday, March 11th. Susquehanna began coverage on shares of MSG Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $39.00 price target on the stock. Macquarie restated an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price target on shares of MSG Entertainment from $36.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, May 7th.

MSG Entertainment Stock Down 0.2%

Shares of MSG Entertainment stock traded down $0.08 on Friday, hitting $37.82. 277,860 shares of the company traded hands, compared to its average volume of 355,732. The company has a 50-day moving average price of $34.19 and a 200 day moving average price of $34.76. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a 12-month low of $28.29 and a 12-month high of $44.14. The company 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.

About MSG Entertainment

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.