Dendur Capital LP Takes Position in MSG Entertainment (NYSE:MSGE)

Dendur Capital LP acquired a new position in MSG Entertainment (NYSE:MSGE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 147,644 shares of the company's stock, valued at approximately $5,256,000. MSG Entertainment comprises about 0.5% of Dendur Capital LP's investment portfolio, making the stock its 17th biggest position. Dendur Capital LP owned approximately 0.31% of MSG Entertainment at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MSGE. Sterling Capital Management LLC lifted its holdings in MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after buying an additional 1,005 shares during the period. Tower Research Capital LLC TRC grew its stake in MSG Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock worth $86,000 after purchasing an additional 504 shares during the period. Pictet Asset Management Holding SA bought a new stake in MSG Entertainment in the fourth quarter worth approximately $205,000. EntryPoint Capital LLC acquired a new position in MSG Entertainment in the fourth quarter valued at approximately $221,000. Finally, OFI Invest Asset Management bought a new position in shares of MSG Entertainment during the 4th quarter worth approximately $270,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

MSG Entertainment Trading Up 1.8 %

NYSE MSGE opened at $30.49 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a 52 week low of $28.29 and a 52 week high of $44.14. The business has a 50 day moving average price of $32.79 and a 200-day moving average price of $35.88. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 5.09 and a beta of 0.22.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on MSGE shares. Macquarie reiterated 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 raised 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.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company's stock in a transaction 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 completion of the sale, the insider now owns 6,015 shares in the company, valued at approximately $186,224.40. This represents a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.85% of the stock is currently owned by company insiders.

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.

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