New York State Common Retirement Fund Grows Stake in MSG Entertainment (NYSE:MSGE)

New York State Common Retirement Fund raised its stake in MSG Entertainment (NYSE:MSGE) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 472,232 shares of the company’s stock after acquiring an additional 2,971 shares during the quarter. New York State Common Retirement Fund’s holdings in MSG Entertainment were worth $16,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Bleakley Financial Group LLC lifted its stake in shares of 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. Principal Financial Group Inc. increased its holdings in MSG Entertainment by 8.0% during the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock worth $712,000 after acquiring an additional 1,479 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in MSG Entertainment by 111.7% during the 4th 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 during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MSG Entertainment Price Performance

Shares of NYSE:MSGE opened at $35.97 on Friday. The company’s fifty day moving average price is $35.60 and its 200-day moving average price is $38.44. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 5.09 and a beta of 0.05. MSG Entertainment has a one year low of $32.40 and a one year high of $44.14. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 323.63% and a net margin of 13.15%. On average, equities research analysts anticipate 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.