Epoch Investment Partners Inc. trimmed its position in MSG Entertainment (NYSE:MSGE - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,786 shares of the company's stock after selling 10,412 shares during the period. Epoch Investment Partners Inc. owned 0.12% of MSG Entertainment worth $2,128,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in MSG Entertainment in the fourth quarter valued at approximately $13,454,000. Alliancebernstein L.P. raised its position in shares of 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 buying an additional 185,670 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of MSG Entertainment by 108.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company's stock worth $12,490,000 after acquiring an additional 182,478 shares during the last quarter. JPMorgan Chase & Co. grew its position in MSG Entertainment by 77.5% in the fourth quarter. JPMorgan Chase & Co. now owns 139,742 shares of the company's stock worth $4,975,000 after acquiring an additional 61,028 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in MSG Entertainment by 1.4% in the fourth 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 during the last quarter. 96.86% of the stock is currently owned by hedge funds and other institutional investors.
MSG Entertainment Trading Up 0.5 %
MSG Entertainment stock traded up $0.15 during mid-day trading on Friday, hitting $32.66. The company's stock had a trading volume of 229,592 shares, compared to its average volume of 371,951. The business has a 50 day moving average price of $32.47 and a 200-day moving average price of $35.73. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.
MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its earnings results 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 net margin of 13.15% and a negative return on equity of 323.63%. As a group, analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.
Insider Buying and Selling
In related 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 transaction of $2,078,747.28. Following the transaction, the insider now owns 6,015 shares in the company, valued at $186,224.40. The trade was a 91.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.85% of the stock is owned by insiders.
Wall Street Analyst Weigh In
MSGE has been the subject of a number of research reports. Wolfe Research upgraded MSG Entertainment from a "peer perform" rating to an "outperform" rating and set a $46.00 price objective for the company in a 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.
Read Our Latest Stock Analysis on MSG Entertainment
MSG Entertainment Profile
(
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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