MSG Entertainment (NYSE:MSGE) Insider F. Dolan 2009 Revocabl Charles Sells 67,143 Shares of Stock

MSG Entertainment (NYSE:MSGE) insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the transaction, the insider now owns 6,015 shares in the company, valued at $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MSG Entertainment Stock Down 1.7 %

NYSE:MSGE opened at $31.85 on Thursday. MSG Entertainment has a 1-year low of $30.56 and a 1-year high of $44.14. The company has a 50-day moving average of $35.41 and a 200 day moving average of $37.90. The firm has a market cap of $1.31 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11. 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 released its quarterly earnings data 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 negative return on equity of 323.63% and a net margin of 13.15%. As a group, research analysts anticipate that MSG Entertainment will post 1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of MSG Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of MSG Entertainment by 111.7% during the fourth 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 during the last quarter. Bleakley Financial Group LLC lifted its position in shares of MSG Entertainment by 16.5% during the fourth 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 during the last quarter. Principal Financial Group Inc. lifted its position in shares of MSG Entertainment by 8.0% during the fourth quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock valued at $712,000 after buying an additional 1,479 shares during the last quarter. New York State Common Retirement Fund lifted its position 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 valued at $16,811,000 after buying an additional 2,971 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of MSG Entertainment by 21.1% during the fourth quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $328,000 after buying an additional 1,600 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

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.