MSG Entertainment (NYSE:MSGE) Shares Sold by Northern Right Capital Management L.P.

Northern Right Capital Management L.P. reduced its position in MSG Entertainment (NYSE:MSGE - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,028 shares of the company's stock after selling 105,840 shares during the period. MSG Entertainment comprises about 5.4% of Northern Right Capital Management L.P.'s holdings, making the stock its 8th largest position. Northern Right Capital Management L.P. owned approximately 0.86% of MSG Entertainment worth $14,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of MSG Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock worth $86,000 after buying an additional 504 shares during the last quarter. Swiss National Bank grew its position in MSG Entertainment by 0.9% in the 4th quarter. Swiss National Bank now owns 76,959 shares of the company's stock worth $2,740,000 after purchasing an additional 700 shares during the last quarter. Sterling Capital Management LLC grew its position in MSG Entertainment by 785.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock worth $40,000 after purchasing an additional 1,005 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of MSG Entertainment by 4.8% during the 4th quarter. MetLife Investment Management LLC now owns 23,940 shares of the company's stock worth $852,000 after purchasing an additional 1,107 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake 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 valued at $296,000 after buying an additional 1,178 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MSGE has been the subject of several recent research reports. Susquehanna began coverage on MSG Entertainment in a report on Monday. They issued a "positive" rating and a $39.00 price target for the company. Macquarie reiterated an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th. Finally, Wolfe Research raised 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 report on Tuesday, March 11th.

Insider Activity

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the 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 sale, the insider now owns 6,015 shares of the company's stock, valued at $186,224.40. This represents a 91.78 % decrease in their position. 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 currently owned by corporate insiders.

MSG Entertainment Price Performance

NYSE:MSGE traded up $0.31 during trading hours on Thursday, reaching $32.75. The company had a trading volume of 57,515 shares, compared to its average volume of 369,425. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The stock has a 50-day moving average of $32.23 and a two-hundred day moving average of $35.53. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The firm has a market capitalization of $1.33 billion, a PE ratio of 12.40, a PEG ratio of 5.09 and a beta of 0.22.

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

MSG Entertainment Company 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.