HighTower Advisors LLC Buys 9,779 Shares of MSG Entertainment (NYSE:MSGE)

HighTower Advisors LLC grew its stake in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 64.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,958 shares of the company's stock after purchasing an additional 9,779 shares during the quarter. HighTower Advisors LLC owned approximately 0.05% of MSG Entertainment worth $889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of MSG Entertainment in the fourth quarter worth about $270,000. Bleakley Financial Group LLC lifted 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 worth $296,000 after buying an additional 1,178 shares during the period. Handelsbanken Fonder AB grew its position in shares of MSG Entertainment by 21.1% in 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 last quarter. AlphaQuest LLC purchased a new position in shares of MSG Entertainment during the fourth quarter valued at approximately $471,000. Finally, Y Intercept Hong Kong Ltd raised its stake in MSG Entertainment by 131.7% in the fourth 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 in the last quarter. Institutional investors own 96.86% of the company's stock.

MSG Entertainment Stock Down 2.8 %

Shares of NYSE:MSGE traded down $0.96 during midday trading on Monday, reaching $32.75. The company's stock had a trading volume of 394,695 shares, compared to its average volume of 373,221. 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 firm has a 50 day moving average of $34.86 and a 200-day moving average of $37.17. The firm has a market capitalization of $1.34 billion, a P/E ratio of 12.45, a PEG ratio of 5.09 and a beta of 0.11. MSG Entertainment has a 12-month low of $30.01 and a 12-month high of $44.14.

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MSG Entertainment (NYSE:MSGE - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 323.63% and a net margin of 13.15%. On average, research analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current year.

Analyst Ratings Changes

MSGE has been the topic of several research reports. Macquarie reaffirmed an "outperform" rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th. Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note 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 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 transaction, the insider now owns 6,015 shares in the company, valued at $186,224.40. The trade was a 91.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.85% of the stock is currently owned by company insiders.

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.