Wolfe Research Upgrades MSG Entertainment (NYSE:MSGE) to “Outperform”

MSG Entertainment (NYSE:MSGE) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $46.00 price objective on the stock. Wolfe Research’s target price indicates a potential upside of 44.43% from the company’s previous close.

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

MSG Entertainment Trading Down 1.7 %

NYSE:MSGE opened at $31.85 on Tuesday. The company has a market cap of $1.31 billion, a P/E ratio of 12.11, a P/E/G ratio of 5.09 and a beta of 0.11. The stock’s fifty day moving average price is $35.41 and its two-hundred day moving average price is $37.90. MSG Entertainment has a 1 year low of $30.56 and a 1 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 released its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share 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%. As a group, analysts expect that MSG Entertainment will post 1.04 EPS for the current year.

Insider Transactions at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction on 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 transaction, the insider now owns 6,015 shares of the company’s stock, valued at $186,224.40. This represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock valued at $40,000 after acquiring an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in MSG Entertainment by 26.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock valued at $86,000 after acquiring an additional 504 shares during the last quarter. State of Wyoming increased its stake in MSG Entertainment by 216.8% in the fourth quarter. State of Wyoming now owns 4,026 shares of the company’s stock valued at $143,000 after acquiring an additional 2,755 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in MSG Entertainment in the fourth quarter valued at $205,000. Finally, EntryPoint Capital LLC bought a new position in shares of MSG Entertainment during the fourth quarter valued at about $221,000. Institutional investors own 96.86% of the company’s stock.

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.