MSG Entertainment (NYSE:MSGE) Stock Holdings Raised by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 81.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413,042 shares of the company's stock after acquiring an additional 185,670 shares during the period. Alliancebernstein L.P. owned 1.01% of MSG Entertainment worth $14,704,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MSGE. Exchange Traded Concepts LLC raised its position in MSG Entertainment by 111.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock valued at $1,063,000 after purchasing an additional 15,756 shares during the period. Charles Schwab Investment Management Inc. grew its position in MSG Entertainment by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company's stock valued at $12,103,000 after acquiring an additional 5,677 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MSG Entertainment by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock worth $139,477,000 after purchasing an additional 52,731 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of MSG Entertainment by 131.7% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company's stock worth $563,000 after purchasing an additional 8,983 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of MSG Entertainment by 64.4% in the fourth quarter. HighTower Advisors LLC now owns 24,958 shares of the company's stock valued at $889,000 after purchasing an additional 9,779 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MSGE. Wolfe Research raised MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note on Tuesday, March 11th. Macquarie restated an "outperform" rating and set a $45.00 target price on shares of MSG Entertainment in a research note on Monday, February 10th.

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 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 in the company, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 17.85% of the stock is owned by insiders.

MSG Entertainment Stock Performance

Shares of NYSE:MSGE traded down $0.05 during midday trading on Monday, hitting $30.25. The stock had a trading volume of 9,602 shares, compared to its average volume of 373,427. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The stock has a 50 day moving average price of $33.73 and a two-hundred day moving average price of $36.40. MSG Entertainment has a 1 year low of $28.29 and a 1 year high of $44.14. The company has a market capitalization of $1.24 billion, a PE ratio of 11.50, a P/E/G ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its earnings results 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%. As a group, equities analysts predict that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

MSG Entertainment 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.