Pinnbrook Capital Management LP Cuts Stock Position in MSG Entertainment (NYSE:MSGE)

Pinnbrook Capital Management LP lowered its holdings in shares of MSG Entertainment (NYSE:MSGE - Free Report) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,660 shares of the company's stock after selling 61,028 shares during the quarter. Pinnbrook Capital Management LP owned 0.17% of MSG Entertainment worth $2,836,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its stake in shares of MSG Entertainment by 111.7% during 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 period. Bleakley Financial Group LLC lifted its holdings in MSG Entertainment by 16.5% during the 4th 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. Finally, Principal Financial Group Inc. boosted its position in MSG Entertainment by 8.0% in the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company's stock valued at $712,000 after buying an additional 1,479 shares during the period. Institutional investors own 96.86% of the company's stock.

Wall Street Analysts Forecast Growth

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

MSG Entertainment Stock Down 2.3 %

NYSE MSGE traded down $0.86 on Friday, reaching $35.97. 408,359 shares of the stock traded hands, compared to its average volume of 379,049. MSG Entertainment has a 12 month low of $32.40 and a 12 month high of $44.14. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 5.21 and a beta of 0.05. The company has a fifty day moving average price of $35.60 and a 200-day moving average price of $38.43. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54.

MSG Entertainment (NYSE:MSGE - Get Free Report) last released its quarterly earnings data 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, research analysts forecast that MSG Entertainment will post 1.04 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.