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

Channing Capital Management LLC lessened its holdings in MSG Entertainment (NYSE:MSGE) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,287,863 shares of the company’s stock after selling 49,272 shares during the quarter. MSG Entertainment accounts for approximately 2.2% of Channing Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Channing Capital Management LLC’s holdings in MSG Entertainment were worth $81,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund lifted its position 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 buying an additional 2,971 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in MSG Entertainment by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock worth $12,103,000 after acquiring an additional 5,677 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 37,240 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings 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 worth $1,063,000 after acquiring an additional 15,756 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 3,294 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

MSG Entertainment Stock Down 3.8 %

Shares of MSGE opened at $30.65 on Tuesday. 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 stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 5.09 and a beta of 0.11. The stock has a fifty day moving average of $35.55 and a 200-day moving average of $38.01.

MSG Entertainment (NYSE:MSGE) last posted its 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 net margin of 13.15% and a negative return on equity of 323.63%. As a group, sell-side analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie reiterated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research 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.