Y Intercept Hong Kong Ltd Raises Stake in MSG Entertainment (NYSE:MSGE)

Y Intercept Hong Kong Ltd grew its position in MSG Entertainment (NYSE:MSGE - Free Report) by 131.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,802 shares of the company's stock after purchasing an additional 8,983 shares during the period. Y Intercept Hong Kong Ltd's holdings in MSG Entertainment were worth $563,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC lifted 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 buying an additional 1,178 shares during the last quarter. Handelsbanken Fonder AB lifted its position in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $328,000 after acquiring an additional 1,600 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in 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 acquiring an additional 1,479 shares during the period. Exchange Traded Concepts LLC grew its position in shares of MSG Entertainment by 111.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company's stock valued at $1,063,000 after purchasing an additional 15,756 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of MSG Entertainment by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock worth $16,811,000 after purchasing an additional 2,971 shares during the period. 96.86% of the stock is currently owned by institutional investors and hedge funds.

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MSG Entertainment Price Performance

Shares of NYSE:MSGE traded down $0.28 on Wednesday, hitting $32.70. The stock had a trading volume of 449,312 shares, compared to its average volume of 376,810. 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 capitalization of $1.34 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 5.09 and a beta of 0.05. MSG Entertainment has a twelve month low of $32.30 and a twelve month high of $44.14. The firm's 50 day moving average price is $35.70 and its 200-day moving average price is $38.23.

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

Analysts Set New Price Targets

Separately, Macquarie reiterated an "outperform" rating and set a $45.00 target price on shares of MSG Entertainment in a research note on Monday, February 10th.

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.