MSG Entertainment (NYSE:MSGE) Stock Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC decreased its position in shares of MSG Entertainment (NYSE:MSGE) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 514,914 shares of the company’s stock after selling 3,696 shares during the quarter. Gabelli Funds LLC owned about 1.07% of MSG Entertainment worth $18,331,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MSGE. Sterling Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of MSG Entertainment in the fourth quarter worth $205,000. EntryPoint Capital LLC purchased a new position in MSG Entertainment during the 4th quarter valued at about $221,000. OFI Invest Asset Management acquired a new position in MSG Entertainment in the 4th quarter valued at approximately $270,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of MSG Entertainment in the fourth quarter worth $289,000. 96.86% of the stock is owned by institutional investors and hedge funds.

MSG Entertainment Price Performance

Shares of NYSE:MSGE opened at $30.84 on Wednesday. The firm has a market capitalization of $1.26 billion, a PE ratio of 11.72, a PEG ratio of 5.09 and a beta of 0.22. 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 business’s 50 day moving average is $33.54 and its 200-day moving average is $36.28. MSG Entertainment has a 1-year low of $28.29 and a 1-year high of $44.14.

MSG Entertainment (NYSE:MSGE) last announced its quarterly 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 net margin of 13.15% and a negative return on equity of 323.63%. Sell-side analysts predict that MSG Entertainment will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.96, for a total value of $2,078,747.28. Following the completion of the transaction, the insider now directly owns 6,015 shares of the company’s stock, valued at approximately $186,224.40. The trade was a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.85% of the stock is owned by company insiders.

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.