Insider Selling: MSG Entertainment (NYSE:MSGE) Insider Sells 67,143 Shares of Stock

MSG Entertainment (NYSE:MSGE) insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company’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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

MSG Entertainment Stock Performance

Shares of MSG Entertainment stock traded down $0.54 on Wednesday, reaching $31.85. 361,157 shares of the company were exchanged, compared to its average volume of 339,105. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 5.09 and a beta of 0.11. MSG Entertainment has a 1-year low of $30.56 and a 1-year high of $44.14. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50-day moving average is $35.48 and its two-hundred day moving average is $37.94.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings data 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 negative return on equity of 323.63% and a net margin of 13.15%. As a group, research analysts expect that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MSG Entertainment

Several large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its holdings in shares of MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock valued at $40,000 after acquiring an additional 1,005 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in MSG Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after purchasing an additional 504 shares in the last quarter. State of Wyoming lifted its position in MSG Entertainment by 216.8% in the fourth quarter. State of Wyoming now owns 4,026 shares of the company’s stock worth $143,000 after purchasing an additional 2,755 shares during the period. Pictet Asset Management Holding SA bought a new position in MSG Entertainment during the fourth quarter valued at about $205,000. Finally, EntryPoint Capital LLC acquired a new position in MSG Entertainment during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MSGE. Wolfe Research upgraded MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday. Macquarie reissued an “outperform” rating and set a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th.

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.