Channing Capital Management LLC Has $81.45 Million Stake in MSG Entertainment (NYSE:MSGE)

Channing Capital Management LLC cut its holdings in shares of MSG Entertainment (NYSE:MSGE) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,287,863 shares of the company’s stock after selling 49,272 shares during the quarter. MSG Entertainment comprises 2.2% of Channing Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Channing Capital Management LLC owned 4.76% of MSG Entertainment worth $81,448,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MSGE. New York State Common Retirement Fund boosted its holdings in shares of MSG Entertainment by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock worth $16,811,000 after acquiring an additional 2,971 shares during the period. Charles Schwab Investment Management Inc. increased its position in MSG Entertainment by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock worth $12,103,000 after buying an additional 5,677 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of MSG Entertainment by 32.7% during the fourth quarter. Bank of New York Mellon Corp now owns 151,142 shares of the company’s stock worth $5,381,000 after buying an additional 37,240 shares in the last quarter. Exchange Traded Concepts LLC boosted 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 valued at $1,063,000 after acquiring an additional 15,756 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of MSG Entertainment by 18.8% in the fourth quarter. Victory Capital Management Inc. now owns 20,797 shares of the company’s stock valued at $740,000 after acquiring an additional 3,294 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie reiterated an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a research note on Monday, February 10th.

MSG Entertainment Trading Down 3.8 %

Shares of MSGE stock opened at $30.65 on Tuesday. The stock has a market cap of $1.26 billion, a P/E ratio of 11.65, a price-to-earnings-growth 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 current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The stock has a 50 day simple moving average of $35.55 and a 200 day simple moving average of $38.01.

MSG Entertainment (NYSE:MSGE) last released its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a net margin of 13.15% and a negative return on equity of 323.63%. On average, research analysts predict that MSG Entertainment will post 1.04 earnings per share 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.