F. Dolan 2009 Revocabl Charles Sells 67,143 Shares of MSG Entertainment (NYSE:MSGE) Stock

MSG Entertainment (NYSE:MSGE) insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company’s stock in a transaction dated 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 trade represents a 91.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MSG Entertainment Price Performance

Shares of NYSE:MSGE opened at $31.85 on Thursday. MSG Entertainment has a twelve month low of $30.56 and a twelve month high of $44.14. The company’s 50 day moving average is $35.41 and its 200 day moving average is $37.90. 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 $1.31 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 323.63% and a net margin of 13.15%. On average, sell-side analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.

Institutional Investors Weigh In On MSG Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock worth $40,000 after purchasing an additional 1,005 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of MSG Entertainment by 26.5% during 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. State of Wyoming grew its stake in shares of MSG Entertainment by 216.8% during the 4th quarter. State of Wyoming now owns 4,026 shares of the company’s stock worth $143,000 after purchasing an additional 2,755 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of MSG Entertainment during the 4th quarter worth approximately $205,000. Finally, EntryPoint Capital LLC purchased a new position in shares of MSG Entertainment during the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analyst Ratings Changes

MSGE has been the topic of several recent analyst reports. Wolfe Research upgraded shares of 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. Macquarie restated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a report on Monday, February 10th.

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.