MSG Entertainment (NYSE:MSGE) Insider Sells $2,078,747.28 in 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 stock was sold at an average price of $30.96, for a total value of $2,078,747.28. Following the sale, the insider now owns 6,015 shares of the company’s stock, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MSG Entertainment Trading Down 4.6 %

Shares of NYSE:MSGE opened at $30.38 on Friday. 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 stock’s 50-day moving average is $35.30 and its 200-day moving average is $37.85. The company has a market cap of $1.24 billion, a P/E ratio of 11.55, a P/E/G ratio of 5.09 and a beta of 0.11. MSG Entertainment has a 52-week low of $30.01 and a 52-week high of $44.14.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.56 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%. Equities research analysts predict that MSG Entertainment will post 1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MSGE shares. Wolfe Research upgraded MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a report on Tuesday. Macquarie restated an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a research note on Monday, February 10th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ariel Investments LLC grew its position in MSG Entertainment by 14.5% during the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company’s stock worth $270,722,000 after buying an additional 964,657 shares in the last quarter. Norges Bank bought a new stake in shares of MSG Entertainment in the 4th quarter worth approximately $13,454,000. Jericho Capital Asset Management L.P. grew its holdings in shares of MSG Entertainment by 10.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company’s stock worth $97,321,000 after purchasing an additional 268,000 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of MSG Entertainment by 81.7% during the fourth quarter. Alliancebernstein L.P. now owns 413,042 shares of the company’s stock valued at $14,704,000 after purchasing an additional 185,670 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of MSG Entertainment by 108.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company’s stock valued at $12,490,000 after purchasing an additional 182,478 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

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.