AlphaQuest LLC Invests $471,000 in MSG Entertainment (NYSE:MSGE)

AlphaQuest LLC acquired a new position in shares of MSG Entertainment (NYSE:MSGE) during the 4th quarter, Holdings Channel.com reports. The fund acquired 13,221 shares of the company’s stock, valued at approximately $471,000.

Several other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of MSG Entertainment by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock worth $16,811,000 after purchasing an additional 2,971 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MSG Entertainment by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock valued at $12,103,000 after buying an additional 5,677 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in MSG Entertainment by 32.7% in the 4th quarter. Bank of New York Mellon Corp now owns 151,142 shares of the company’s stock valued at $5,381,000 after buying an additional 37,240 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in MSG Entertainment by 111.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock valued at $1,063,000 after buying an additional 15,756 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in MSG Entertainment by 18.8% in the 4th quarter. Victory Capital Management Inc. now owns 20,797 shares of the company’s stock valued at $740,000 after buying an additional 3,294 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

MSGE has been the topic of several recent analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday.

Insider Buying and Selling at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.96, for a total value of $2,078,747.28. Following the completion of the transaction, the insider now owns 6,015 shares in the company, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.85% of the company’s stock.

MSG Entertainment Trading Down 1.7 %

Shares of MSGE opened at $31.85 on Thursday. The stock has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $37.90. 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 has a 52-week low of $30.56 and a 52-week high of $44.14. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 5.09 and a beta of 0.11.

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 net margin of 13.15% and a negative return on equity of 323.63%. Analysts predict that MSG Entertainment will post 1.04 EPS for the current fiscal year.

MSG Entertainment 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.