Northern Right Capital Management L.P. Sells 105,840 Shares of MSG Entertainment (NYSE:MSGE)

Northern Right Capital Management L.P. lowered its holdings in MSG Entertainment (NYSE:MSGE - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,028 shares of the company's stock after selling 105,840 shares during the period. MSG Entertainment accounts for 5.4% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 8th biggest position. Northern Right Capital Management L.P. owned about 0.86% of MSG Entertainment worth $14,633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MSGE. Exchange Traded Concepts LLC increased 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 worth $1,063,000 after acquiring an additional 15,756 shares in the last quarter. Bleakley Financial Group LLC raised its stake in MSG Entertainment by 16.5% during the fourth quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company's stock valued at $296,000 after buying an additional 1,178 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of MSG Entertainment by 8.0% during the 4th 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 in the last quarter. New York State Common Retirement Fund lifted its position in shares of MSG Entertainment by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company's stock worth $16,811,000 after buying an additional 2,971 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake 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 buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company's stock.

Analyst Ratings Changes

MSGE has been the subject of several recent analyst reports. Susquehanna began coverage on MSG Entertainment in a research note on Monday. They issued a "positive" rating and a $39.00 price target for the company. Macquarie restated an "outperform" rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th. Finally, 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 report on Tuesday, March 11th.

MSG Entertainment Stock Performance

NYSE MSGE traded down $0.08 during trading on Tuesday, hitting $32.78. The company's stock had a trading volume of 207,760 shares, compared to its average volume of 371,424. MSG Entertainment has a 52 week low of $28.29 and a 52 week high of $44.14. The firm has a 50 day moving average price of $32.38 and a 200 day moving average price of $35.57. The firm has a market cap of $1.34 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts forecast that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.96, for a total value of $2,078,747.28. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.85% of the stock is owned by insiders.

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.