AlphaQuest LLC Makes New Investment in MSG Entertainment (NYSE:MSGE)

AlphaQuest LLC purchased a new stake in MSG Entertainment (NYSE:MSGE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 13,221 shares of the company's stock, valued at approximately $471,000.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in MSG Entertainment during the 4th quarter worth approximately $270,000. Bleakley Financial Group LLC raised its holdings in MSG Entertainment by 16.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock worth $296,000 after buying an additional 1,178 shares during the period. Handelsbanken Fonder AB raised its holdings in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $328,000 after buying an additional 1,600 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in MSG Entertainment by 131.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company's stock worth $563,000 after buying an additional 8,983 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of MSG Entertainment by 8.0% during the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock worth $712,000 after acquiring an additional 1,479 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

MSG Entertainment Stock Up 3.7 %

Shares of NYSE:MSGE traded up $1.14 during midday trading on Friday, hitting $31.58. The stock had a trading volume of 429,689 shares, compared to its average volume of 333,611. MSG Entertainment has a 12 month low of $30.01 and a 12 month high of $44.14. 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 business's 50-day simple moving average is $35.22 and its 200-day simple moving average is $37.75. The company has a market cap of $1.29 billion, a P/E ratio of 12.01, a PEG ratio of 5.09 and a beta of 0.11.

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MSG Entertainment (NYSE:MSGE - Get Free Report) last released 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 net margin of 13.15% and a negative return on equity of 323.63%. On average, sell-side analysts forecast that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MSGE has been the subject of several research reports. Macquarie reaffirmed an "outperform" rating and set a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th. Wolfe Research raised shares of 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.

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.