Channing Capital Management LLC trimmed its stake in MSG Entertainment (NYSE:MSGE - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,287,863 shares of the company's stock after selling 49,272 shares during the period. MSG Entertainment comprises about 2.2% of Channing Capital Management LLC's investment portfolio, making the stock its 16th biggest position. Channing Capital Management LLC owned about 4.76% of MSG Entertainment worth $81,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in shares of MSG Entertainment by 111.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock worth $1,063,000 after acquiring an additional 15,756 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of 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 acquiring an additional 1,178 shares during the period. Principal Financial Group Inc. lifted its holdings 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 during the period. New York State Common Retirement Fund lifted its holdings 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 worth $16,811,000 after acquiring an additional 2,971 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of 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 acquiring an additional 1,600 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.
MSG Entertainment Price Performance
MSGE stock traded up $1.14 during trading on Friday, hitting $31.58. 429,689 shares of the stock traded hands, compared to its average volume of 339,000. MSG Entertainment has a one year low of $30.01 and a one year high of $44.14. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 5.09 and a beta of 0.11. The company has a 50 day simple moving average of $35.30 and a 200 day simple moving average of $37.85. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61.
MSG Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly 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 net margin of 13.15% and a negative return on equity of 323.63%. Equities analysts expect that MSG Entertainment will post 1.04 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Macquarie reaffirmed an "outperform" rating and set a $45.00 price objective on shares of MSG Entertainment in a report 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 objective for the company in a report on Tuesday.
Check Out Our Latest Stock Report on MSG Entertainment
Insider Buying and Selling at MSG Entertainment
In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.96, for a total value of $2,078,747.28. Following the completion of the sale, the insider now owns 6,015 shares in the company, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.85% of the company's stock.
MSG Entertainment Profile
(
Free Report)
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.
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