Garden State Investment Advisory Services LLC Has $442,000 Stock Position in MSG Entertainment (NYSE:MSGE)

Garden State Investment Advisory Services LLC raised its holdings in MSG Entertainment (NYSE:MSGE) by 59.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,406 shares of the company’s stock after purchasing an additional 4,610 shares during the period. Garden State Investment Advisory Services LLC’s holdings in MSG Entertainment were worth $442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in MSG Entertainment by 111.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock worth $1,063,000 after purchasing an additional 15,756 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of MSG Entertainment by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock worth $12,103,000 after buying an additional 5,677 shares during the last quarter. Vanguard Group Inc. boosted its stake in MSG Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company’s stock valued at $139,477,000 after buying an additional 52,731 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in MSG Entertainment by 131.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company’s stock valued at $563,000 after acquiring an additional 8,983 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of MSG Entertainment by 64.4% in the fourth quarter. HighTower Advisors LLC now owns 24,958 shares of the company’s stock worth $889,000 after acquiring an additional 9,779 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm’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 completion of the transaction, the insider now owns 6,015 shares in the company, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MSGE shares. Wolfe Research upgraded shares of MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Tuesday, March 11th. Macquarie reiterated an “outperform” rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

MSG Entertainment Stock Performance

Shares of MSGE stock opened at $30.84 on Wednesday. The business’s 50-day moving average price is $33.54 and its 200-day moving average price is $36.28. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (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%. Equities research analysts forecast that MSG Entertainment will post 1.04 EPS for the current 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.