Arrowstreet Capital Limited Partnership Buys 182,478 Shares of MSG Entertainment (NYSE:MSGE)

Arrowstreet Capital Limited Partnership increased its stake in MSG Entertainment (NYSE:MSGE - Free Report) by 108.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,829 shares of the company's stock after purchasing an additional 182,478 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.73% of MSG Entertainment worth $12,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of MSG Entertainment by 0.9% during the 4th quarter. Swiss National Bank now owns 76,959 shares of the company's stock worth $2,740,000 after buying an additional 700 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in MSG Entertainment by 16.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock valued at $296,000 after acquiring an additional 1,178 shares during the period. Principal Financial Group Inc. raised its holdings in MSG Entertainment by 8.0% in the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock valued at $712,000 after acquiring an additional 1,479 shares during the period. Handelsbanken Fonder AB raised its holdings in MSG Entertainment by 21.1% in the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock valued at $328,000 after acquiring an additional 1,600 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in MSG Entertainment by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock valued at $16,811,000 after acquiring an additional 2,971 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Macquarie restated an "outperform" rating and set a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th. Wolfe Research upgraded shares of MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price target on the stock in a research report on Tuesday, March 11th.

Insider Buying and Selling at MSG Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm's 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 owns 6,015 shares of the company's stock, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.85% of the company's stock.

MSG Entertainment Price Performance

MSG Entertainment stock traded down $1.14 during mid-day trading on Thursday, reaching $30.85. The company had a trading volume of 17,318 shares, compared to its average volume of 368,158. MSG Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $44.14. 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 company has a market cap of $1.26 billion, a P/E ratio of 11.73, a P/E/G ratio of 5.09 and a beta of 0.22. The business has a fifty day simple moving average of $33.96 and a 200 day simple moving average of $36.58.

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 analysts' consensus estimates 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, equities research analysts predict that MSG Entertainment will post 1.04 earnings per share 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.