Macquarie Reaffirms Outperform Rating for MSG Entertainment (NYSE:MSGE)

MSG Entertainment (NYSE:MSGE - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Macquarie in a research note issued on Monday,Benzinga reports. They presently have a $45.00 price objective on the stock. Macquarie's price objective indicates a potential upside of 17.90% from the company's previous close.

MSG Entertainment Stock Down 0.8 %

Shares of NYSE MSGE traded down $0.32 during trading on Monday, reaching $38.17. The company had a trading volume of 260,813 shares, compared to its average volume of 385,890. The company's fifty day moving average price is $35.42 and its 200-day moving average price is $38.46. MSG Entertainment has a 12 month low of $32.40 and a 12 month high of $44.14. The stock has a market cap of $1.83 billion, a P/E ratio of 14.51, a PEG ratio of 3.26 and a beta of 0.05.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 227.66% and a net margin of 13.15%. As a group, equities analysts predict that MSG Entertainment will post 1.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MSGE. Vanguard Group Inc. boosted its position in MSG Entertainment by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock valued at $139,477,000 after acquiring an additional 52,731 shares in the last quarter. Geode Capital Management LLC boosted its stake in MSG Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 943,475 shares of the company's stock valued at $33,596,000 after purchasing an additional 5,012 shares during the last quarter. New York State Common Retirement Fund boosted its stake in 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 valued at $16,811,000 after purchasing an additional 2,971 shares during the last quarter. Alliancebernstein L.P. boosted its stake in MSG Entertainment by 81.7% during the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company's stock valued at $14,704,000 after purchasing an additional 185,670 shares during the last quarter. Finally, Norges Bank purchased a new stake in MSG Entertainment during the 4th quarter valued at $13,454,000. Hedge funds and other institutional investors own 96.86% of the company's stock.

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.