MSG Entertainment (NYSE:MSGE) Research Coverage Started at Susquehanna

Susquehanna initiated coverage on shares of MSG Entertainment (NYSE:MSGE) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued a positive rating and a $39.00 target price on the stock.

A number of other equities analysts have also issued reports on the stock. Wolfe Research raised shares of MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Tuesday, March 11th. Macquarie reissued an “outperform” rating and set a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th.

MSG Entertainment Stock Down 1.1 %

MSG Entertainment stock opened at $32.41 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. MSG Entertainment has a 1-year low of $28.29 and a 1-year high of $44.14. The firm’s fifty day simple moving average is $32.23 and its 200-day simple moving average is $35.53. The company has a market capitalization of $1.32 billion, a P/E ratio of 12.32, a P/E/G ratio of 5.09 and a beta of 0.22.

MSG Entertainment (NYSE:MSGE) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) 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%. Sell-side analysts forecast that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 6,015 shares in the company, valued at $186,224.40. This represents a 91.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On MSG Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in MSG Entertainment during the 1st quarter valued at $31,000. Sterling Capital Management LLC raised its position in shares of MSG Entertainment by 785.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock worth $40,000 after acquiring an additional 1,005 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of MSG Entertainment by 136,900.0% during the first quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock valued at $44,000 after acquiring an additional 1,369 shares during the period. GAMMA Investing LLC boosted its holdings in MSG Entertainment by 1,632.3% in the first quarter. GAMMA Investing LLC now owns 2,685 shares of the company’s stock valued at $82,000 after acquiring an additional 2,530 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in MSG Entertainment by 26.5% in the fourth 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. 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.