Bank of New York Mellon Corp Boosts Stock Position in MSG Entertainment (NYSE:MSGE)

Bank of New York Mellon Corp boosted its position in MSG Entertainment (NYSE:MSGE - Free Report) by 32.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,142 shares of the company's stock after purchasing an additional 37,240 shares during the quarter. Bank of New York Mellon Corp owned about 0.31% of MSG Entertainment worth $5,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of MSG Entertainment by 111.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock worth $1,063,000 after buying an additional 15,756 shares in the last quarter. Bleakley Financial Group LLC increased its stake in MSG Entertainment by 16.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock worth $296,000 after acquiring an additional 1,178 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 in the last quarter. New York State Common Retirement Fund boosted its position in shares of MSG Entertainment by 0.6% during 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 last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of MSG Entertainment by 21.1% during the fourth quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $328,000 after purchasing an additional 1,600 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

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MSG Entertainment Price Performance

Shares of MSGE traded down $0.30 during midday trading on Friday, reaching $33.73. The stock had a trading volume of 377,941 shares, compared to its average volume of 329,560. 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 capitalization of $1.38 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11. The company's 50-day moving average is $35.09 and its 200 day moving average is $37.53. MSG Entertainment has a 12-month low of $30.01 and a 12-month high of $44.14.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) 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, equities analysts predict that MSG Entertainment will post 1.04 EPS for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,015 shares in the company, valued at $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MSGE shares. Macquarie reaffirmed an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a research note 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 objective on the stock in a research report on Tuesday, March 11th.

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.