Kerrisdale Advisers LLC reduced its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,495 shares of the company's stock after selling 34,451 shares during the quarter. Kerrisdale Advisers LLC owned about 0.09% of MSG Entertainment worth $1,548,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in MSG Entertainment by 111.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock valued at $1,063,000 after buying an additional 15,756 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings 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 buying an additional 1,178 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of MSG Entertainment by 8.0% during the fourth quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock valued at $712,000 after buying an additional 1,479 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of MSG Entertainment by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock valued at $16,811,000 after buying an additional 2,971 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in MSG Entertainment by 21.1% in 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 during the last quarter. 96.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Macquarie reaffirmed 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 target on the stock in a research note on Tuesday, March 11th. Finally, Susquehanna initiated coverage on shares of MSG Entertainment in a report on Monday. They issued a "positive" rating and a $39.00 price objective for the company.
Get Our Latest Analysis on MSG Entertainment
Insider Activity at MSG Entertainment
In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.96, for a total value of $2,078,747.28. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.85% of the stock is currently owned by company insiders.
MSG Entertainment Trading Up 0.9 %
MSGE traded up $0.30 during trading hours on Monday, reaching $32.96. The company's stock had a trading volume of 195,047 shares, compared to its average volume of 360,430. The business's 50-day moving average is $32.47 and its 200-day moving average is $35.63. 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 $1.35 billion, a PE ratio of 12.53, a P/E/G ratio of 5.09 and a beta of 0.22. MSG Entertainment has a fifty-two week low of $28.29 and a fifty-two week high of $44.14.
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 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 research analysts predict that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.
About MSG Entertainment
(
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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