Victory Capital Management Inc. Increases Stock Position in MSG Entertainment (NYSE:MSGE)

Victory Capital Management Inc. lifted its holdings in MSG Entertainment (NYSE:MSGE) by 18.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,797 shares of the company’s stock after acquiring an additional 3,294 shares during the quarter. Victory Capital Management Inc.’s holdings in MSG Entertainment were worth $740,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in shares of MSG Entertainment by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock worth $16,811,000 after purchasing an additional 2,971 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of MSG Entertainment by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock worth $12,103,000 after purchasing an additional 5,677 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $5,381,000 after acquiring an additional 37,240 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in 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 acquiring an additional 15,756 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 acquiring an additional 1,479 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MSGE shares. 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 report on Tuesday, March 11th. Macquarie reissued an “outperform” rating and set a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th.

Insider Buying and Selling at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company’s stock in a transaction that occurred 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 approximately $186,224.40. This represents a 91.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.85% of the stock is currently owned by company insiders.

MSG Entertainment Trading Down 0.9 %

NYSE:MSGE opened at $33.73 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a 52 week low of $30.01 and a 52 week high of $44.14. 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. The firm has a 50 day moving average of $35.08 and a 200 day moving average of $37.47.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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.

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.