Systematic Financial Management LP Raises Stake in MSG Entertainment (NYSE:MSGE)

Systematic Financial Management LP raised its stake in shares of MSG Entertainment (NYSE:MSGE) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 919,477 shares of the company’s stock after purchasing an additional 27,984 shares during the quarter. Systematic Financial Management LP owned 1.91% of MSG Entertainment worth $32,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGE. Sterling Capital Management LLC boosted its position in MSG Entertainment by 785.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock valued at $40,000 after buying an additional 1,005 shares during the period. Tower Research Capital LLC TRC increased its stake in MSG Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after purchasing an additional 504 shares during the period. Pictet Asset Management Holding SA purchased a new position in MSG Entertainment in the 4th quarter worth approximately $205,000. EntryPoint Capital LLC purchased a new position in MSG Entertainment in the 4th quarter worth approximately $221,000. Finally, Freestone Grove Partners LP purchased a new position in MSG Entertainment in the 4th quarter worth approximately $233,000. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction on Monday, March 10th. The stock was 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 owns 6,015 shares in the company, valued at $186,224.40. The trade was a 91.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.85% of the company’s stock.

MSG Entertainment Price Performance

MSGE opened at $38.39 on Friday. The stock has a fifty day simple moving average of $32.91 and a two-hundred day simple moving average of $34.99. 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 company has a market cap of $1.56 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. MSG Entertainment has a 12-month low of $28.29 and a 12-month high of $44.14.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Macquarie reaffirmed an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a research note on Monday, February 10th. Susquehanna initiated coverage on shares of MSG Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $39.00 target price for the company. Wolfe Research upgraded 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 report on Tuesday, March 11th. Finally, The Goldman Sachs Group lifted their price objective on MSG Entertainment from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th.

MSG Entertainment 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.