Northern Trust Corp Acquires 45,875 Shares of MSG Entertainment (NYSE:MSGE)

Northern Trust Corp grew its position in MSG Entertainment (NYSE:MSGE - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 515,995 shares of the company's stock after buying an additional 45,875 shares during the quarter. Northern Trust Corp owned 1.07% of MSG Entertainment worth $18,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position 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 buying an additional 1,005 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of MSG Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after buying an additional 504 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of MSG Entertainment in the 4th quarter valued at approximately $205,000. EntryPoint Capital LLC acquired a new position in shares of MSG Entertainment in the 4th quarter valued at approximately $221,000. Finally, OFI Invest Asset Management acquired a new position in shares of MSG Entertainment in the 4th quarter valued at approximately $270,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

MSG Entertainment Price Performance

MSGE stock traded up $0.29 during trading on Friday, reaching $38.39. 177,201 shares of the company were exchanged, compared to its average volume of 356,671. The company has a 50-day moving average of $32.79 and a two-hundred day moving average of $35.02. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.60, a P/E/G 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. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.

Insider Buying and Selling at MSG Entertainment

In related 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 value 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. The trade was a 91.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on MSGE. Susquehanna began coverage on shares of MSG Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $39.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of MSG Entertainment from $36.00 to $41.00 and gave the stock a "buy" rating in a research report 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. Finally, Macquarie reiterated an "outperform" rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th.

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.