Vanguard Group Inc. Acquires 52,731 Shares of MSG Entertainment (NYSE:MSGE)

Vanguard Group Inc. boosted its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,917,905 shares of the company's stock after buying an additional 52,731 shares during the period. Vanguard Group Inc. owned approximately 8.15% of MSG Entertainment worth $139,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of MSG Entertainment in the 4th quarter valued at $289,000. Swiss National Bank increased its holdings in MSG Entertainment by 0.9% in the fourth quarter. Swiss National Bank now owns 76,959 shares of the company's stock valued at $2,740,000 after purchasing an additional 700 shares during the last quarter. HighTower Advisors LLC lifted its stake in MSG Entertainment by 64.4% in the fourth quarter. HighTower Advisors LLC now owns 24,958 shares of the company's stock valued at $889,000 after buying an additional 9,779 shares during the period. AlphaQuest LLC bought a new position in MSG Entertainment during the fourth quarter worth about $471,000. Finally, OFI Invest Asset Management acquired a new position in shares of MSG Entertainment during the 4th quarter worth about $270,000. 96.86% of the stock is owned by institutional investors.

Insider Activity

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

Remove Ads

Analyst Ratings Changes

A number of analysts recently weighed in on MSGE shares. Wolfe Research upgraded 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 report on Tuesday, March 11th. Macquarie reaffirmed an "outperform" rating and issued a $45.00 target price on shares of MSG Entertainment in a research note on Monday, February 10th.

MSG Entertainment Trading Up 0.3 %

MSGE stock traded up $0.08 during midday trading on Friday, hitting $30.42. 195,417 shares of the company's stock were exchanged, compared to its average volume of 374,478. MSG Entertainment has a one year low of $28.29 and a one year high of $44.14. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $1.25 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The stock's fifty day moving average price is $33.73 and its 200-day moving average price is $36.43.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a net margin of 13.15% and a negative return on equity of 323.63%. Research analysts predict that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

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.