MSG Entertainment’s (MSGE) Outperform Rating Reiterated at Macquarie

Macquarie restated their outperform rating on shares of MSG Entertainment (NYSE:MSGE) in a research note issued to investors on Monday,Benzinga reports. Macquarie currently has a $45.00 price target on the stock.

MSG Entertainment Stock Performance

NYSE MSGE opened at $38.47 on Monday. The firm has a 50-day moving average of $35.42 and a 200-day moving average of $38.46. The stock has a market cap of $1.58 billion, a PE ratio of 14.63, a P/E/G ratio of 3.26 and a beta of 0.05. MSG Entertainment has a 52-week low of $32.40 and a 52-week high of $44.14.

MSG Entertainment (NYSE:MSGE) last posted its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 227.66% and a net margin of 13.15%. As a group, analysts predict that MSG Entertainment will post 1.58 EPS for the current fiscal year.

Institutional Trading of MSG Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA acquired a new stake in MSG Entertainment in the 4th quarter worth about $205,000. EntryPoint Capital LLC acquired a new stake in MSG Entertainment in the 4th quarter worth about $221,000. OFI Invest Asset Management acquired a new stake in MSG Entertainment in the 4th quarter worth about $270,000. KLP Kapitalforvaltning AS acquired a new stake in MSG Entertainment in the 4th quarter worth about $289,000. Finally, Bleakley Financial Group LLC raised its stake in MSG Entertainment by 16.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company’s stock worth $296,000 after purchasing an additional 1,178 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

MSG Entertainment Company 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.