Voleon Capital Management LP Takes $1.80 Million Position in MSG Entertainment (NYSE:MSGE)

Voleon Capital Management LP acquired a new stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 50,494 shares of the company's stock, valued at approximately $1,798,000. Voleon Capital Management LP owned approximately 0.11% of MSG Entertainment as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of MSG Entertainment by 785.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MSG Entertainment by 26.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock worth $86,000 after purchasing an additional 504 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of MSG Entertainment during the 4th quarter valued at about $205,000. EntryPoint Capital LLC bought a new stake in shares of MSG Entertainment in the 4th quarter valued at approximately $221,000. Finally, OFI Invest Asset Management acquired a new position in MSG Entertainment in the fourth quarter worth approximately $270,000. Institutional investors and hedge funds own 96.86% of the company's stock.

Insider Activity

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 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. This trade represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Macquarie reissued an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th. Susquehanna assumed coverage on MSG Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $39.00 target price on the stock. Finally, Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price target for the company in a research note on Tuesday, March 11th.

MSG Entertainment Stock Performance

Shares of NYSE MSGE traded up $0.56 during trading hours on Monday, hitting $34.11. 298,550 shares of the stock were exchanged, compared to its average volume of 365,499. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The company's 50 day moving average is $32.15 and its 200 day moving average is $35.28. 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 firm has a market capitalization of $1.38 billion, a P/E ratio of 12.97, a P/E/G ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 323.63% and a net margin of 13.15%. On average, research analysts expect that MSG Entertainment will post 1.04 EPS for the current year.

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.