Price T Rowe Associates Inc. MD Has $1.15 Million Stock Position in MSG Entertainment (NYSE:MSGE)

Price T Rowe Associates Inc. MD increased its stake in shares of MSG Entertainment (NYSE:MSGE) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,373 shares of the company’s stock after buying an additional 2,830 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.07% of MSG Entertainment worth $1,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of MSG Entertainment by 26.5% during 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 period. MetLife Investment Management LLC increased its holdings in shares of MSG Entertainment by 4.8% during the fourth quarter. MetLife Investment Management LLC now owns 23,940 shares of the company’s stock worth $852,000 after buying an additional 1,107 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MSG Entertainment by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company’s stock worth $36,265,000 after acquiring an additional 4,573 shares in the last quarter. First Trust Advisors LP grew its position in MSG Entertainment by 43.4% during the 4th quarter. First Trust Advisors LP now owns 115,039 shares of the company’s stock worth $4,095,000 after acquiring an additional 34,821 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC raised its position in MSG Entertainment by 59.1% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 12,406 shares of the company’s stock valued at $442,000 after purchasing an additional 4,610 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

MSG Entertainment Stock Performance

MSGE stock opened at $36.14 on Friday. MSG Entertainment has a twelve month low of $28.29 and a twelve month high of $44.14. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The company has a market cap of $1.47 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The business’s fifty day moving average is $32.33 and its 200-day moving average is $35.14.

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%. Equities research analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.

Insider Transactions at MSG Entertainment

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction dated Monday, March 10th. The stock was 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 $186,224.40. The trade was a 91.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.85% of the company’s stock.

Wall Street Analysts Forecast Growth

MSGE has been the subject of a number of research analyst reports. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, March 11th. Macquarie reissued an “outperform” rating and set a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th. The Goldman Sachs Group upped their price objective on MSG Entertainment from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Susquehanna initiated coverage on MSG Entertainment in a research report on Monday, April 28th. They set a “positive” rating and a $39.00 target price for the company.

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.