MSG Entertainment (NYSE:MSGE) Short Interest Down 32.1% in January

MSG Entertainment (NYSE:MSGE - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,290,000 shares, a drop of 32.1% from the January 15th total of 1,900,000 shares. Based on an average daily trading volume, of 447,300 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.2% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Macquarie reaffirmed an "outperform" rating and issued a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

Institutional Trading of MSG Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its holdings in shares of MSG Entertainment by 785.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company's stock valued at $40,000 after buying an additional 1,005 shares during the period. Tower Research Capital LLC TRC boosted its stake in MSG Entertainment by 26.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company's stock valued at $86,000 after acquiring an additional 504 shares during the period. State of Wyoming grew its holdings in shares of MSG Entertainment by 216.8% during the fourth quarter. State of Wyoming now owns 4,026 shares of the company's stock valued at $143,000 after purchasing an additional 2,755 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of MSG Entertainment during the fourth quarter valued at approximately $205,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of MSG Entertainment during the 4th quarter worth approximately $221,000. Institutional investors own 96.86% of the company's stock.

MSG Entertainment Price Performance

NYSE:MSGE traded down $0.77 during mid-day trading on Tuesday, reaching $37.10. The stock had a trading volume of 203,988 shares, compared to its average volume of 377,216. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.26 and a beta of 0.05. MSG Entertainment has a 1-year low of $32.40 and a 1-year high of $44.14. The stock's 50 day simple moving average is $35.48 and its two-hundred day simple moving average is $38.44.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its earnings results 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%. Sell-side analysts anticipate that MSG Entertainment will post 1.58 EPS 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.