JPMorgan Chase & Co. Acquires 61,028 Shares of MSG Entertainment (NYSE:MSGE)

JPMorgan Chase & Co. grew its holdings in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 77.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,742 shares of the company's stock after buying an additional 61,028 shares during the period. JPMorgan Chase & Co. owned 0.29% of MSG Entertainment worth $4,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MSGE. EntryPoint Capital LLC purchased a new stake in shares of MSG Entertainment during the fourth quarter worth $221,000. OFI Invest Asset Management bought a new stake in MSG Entertainment during the fourth quarter worth approximately $270,000. KLP Kapitalforvaltning AS bought a new position in shares of MSG Entertainment in the fourth quarter worth about $289,000. Bleakley Financial Group LLC grew its stake in shares of MSG Entertainment by 16.5% in the fourth 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. Finally, Handelsbanken Fonder AB boosted 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 purchasing an additional 1,600 shares during the period. 96.86% of the stock is owned by institutional investors.

MSG Entertainment Trading Up 2.1 %

Shares of MSGE stock traded up $0.67 on Thursday, reaching $31.99. 24,331 shares of the stock were exchanged, compared to its average volume of 370,898. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The stock has a 50 day moving average price of $32.67 and a 200 day moving average price of $35.85. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $1.31 billion, a PE ratio of 12.17, a P/E/G ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share 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%. Equities research analysts forecast that MSG Entertainment will post 1.04 EPS for the current fiscal year.

Insider Transactions at MSG Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 6,015 shares of the company's stock, valued at approximately $186,224.40. This represents a 91.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MSGE shares. Macquarie reiterated 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 MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research report on Tuesday, March 11th.

MSG Entertainment Company 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.