MSG Entertainment (NYSE:MSGE) Stock Rating Upgraded by Wolfe Research

MSG Entertainment (NYSE:MSGE) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a $46.00 price target on the stock. Wolfe Research’s target price points to a potential upside of 50.09% from the stock’s previous close.

Separately, Macquarie reiterated an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

MSG Entertainment Stock Performance

NYSE MSGE opened at $30.65 on Tuesday. MSG Entertainment has a twelve month low of $30.56 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 stock has a market cap of $1.26 billion, a P/E ratio of 11.65, a PEG ratio of 5.09 and a beta of 0.11. The company’s 50-day simple moving average is $35.55 and its 200 day simple moving average is $38.01.

MSG Entertainment (NYSE:MSGE) last released its quarterly earnings data 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 net margin of 13.15% and a negative return on equity of 323.63%. As a group, research analysts forecast that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of MSG Entertainment

Several hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC lifted its position in MSG Entertainment by 14.5% in the 4th quarter. Ariel Investments LLC now owns 7,604,543 shares of the company’s stock valued at $270,722,000 after acquiring an additional 964,657 shares in the last quarter. Norges Bank acquired a new stake in shares of MSG Entertainment in the 4th quarter valued at about $13,454,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of MSG Entertainment by 10.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company’s stock valued at $97,321,000 after purchasing an additional 268,000 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of MSG Entertainment by 81.7% during the fourth quarter. Alliancebernstein L.P. now owns 413,042 shares of the company’s stock worth $14,704,000 after buying an additional 185,670 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of MSG Entertainment by 108.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company’s stock worth $12,490,000 after buying an additional 182,478 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.

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.