Charles Schwab Investment Management Inc. Purchases 5,677 Shares of MSG Entertainment (NYSE:MSGE)

Charles Schwab Investment Management Inc. lifted its position in MSG Entertainment (NYSE:MSGE) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,977 shares of the company’s stock after buying an additional 5,677 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MSG Entertainment were worth $12,103,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased 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 in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of MSG Entertainment by 131.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company’s stock valued at $563,000 after purchasing an additional 8,983 shares during the period. Handelsbanken Fonder AB increased its stake in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock worth $328,000 after purchasing an additional 1,600 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in MSG Entertainment by 16.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company’s stock worth $296,000 after buying an additional 1,178 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in MSG Entertainment by 32.7% during the 4th quarter. Bank of New York Mellon Corp now owns 151,142 shares of the company’s stock worth $5,381,000 after buying an additional 37,240 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

Insider Activity at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction dated 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 completion of the sale, the insider now owns 6,015 shares of the company’s stock, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MSGE. 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, March 11th. Macquarie reaffirmed 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 Price Performance

Shares of NYSE MSGE opened at $33.73 on Friday. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50-day moving average of $35.08 and a 200-day moving average of $37.47. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 5.09 and a beta of 0.11. MSG Entertainment has a fifty-two week low of $30.01 and a fifty-two week high of $44.14.

MSG Entertainment (NYSE:MSGE) last issued its earnings results 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, sell-side analysts predict 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.