Federated Hermes Inc. Sells 524,680 Shares of MSG Entertainment (NYSE:MSGE)

Federated Hermes Inc. decreased its position in MSG Entertainment (NYSE:MSGE - Free Report) by 89.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,607 shares of the company's stock after selling 524,680 shares during the period. Federated Hermes Inc. owned approximately 0.13% of MSG Entertainment worth $2,158,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted 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 worth $1,063,000 after acquiring an additional 15,756 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MSG Entertainment by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company's stock worth $12,103,000 after purchasing an additional 5,677 shares during the period. Vanguard Group Inc. raised its position in shares of MSG Entertainment by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company's stock worth $139,477,000 after purchasing an additional 52,731 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of MSG Entertainment by 131.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company's stock worth $563,000 after purchasing an additional 8,983 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in MSG Entertainment by 64.4% in the 4th quarter. HighTower Advisors LLC now owns 24,958 shares of the company's stock valued at $889,000 after purchasing an additional 9,779 shares during the period. Institutional investors own 96.86% of the company's stock.

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MSG Entertainment Stock Up 1.8 %

NYSE MSGE traded up $0.55 on Thursday, reaching $30.62. The company had a trading volume of 91,886 shares, compared to its average volume of 372,163. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The stock has a market capitalization of $1.25 billion, a P/E ratio of 11.64, a P/E/G ratio of 5.09 and a beta of 0.22. The company's fifty day moving average is $33.41 and its 200 day moving average is $36.24. MSG Entertainment has a 52-week low of $28.29 and a 52-week high of $44.14.

MSG Entertainment (NYSE:MSGE - Get Free Report) last released 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%. Sell-side analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 17.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MSGE has been the topic of several research reports. Macquarie restated an "outperform" rating and set a $45.00 price objective on shares of MSG Entertainment in a 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 report on Tuesday, March 11th.

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.