Radnor Capital Management LLC Decreases Stock Holdings in MSG Entertainment (NYSE:MSGE)

Radnor Capital Management LLC decreased its holdings in shares of MSG Entertainment (NYSE:MSGE) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,612 shares of the company’s stock after selling 408 shares during the quarter. Radnor Capital Management LLC’s holdings in MSG Entertainment were worth $708,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Ariel Investments LLC raised its stake in MSG Entertainment by 14.5% during the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company’s stock valued at $270,722,000 after purchasing an additional 964,657 shares in the last quarter. Vanguard Group Inc. increased its position in MSG Entertainment by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company’s stock valued at $139,477,000 after acquiring an additional 52,731 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position in MSG Entertainment by 10.9% during 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 acquiring an additional 268,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in MSG Entertainment by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,657 shares of the company’s stock valued at $36,265,000 after acquiring an additional 4,573 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in MSG Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 943,475 shares of the company’s stock valued at $33,596,000 after acquiring an additional 5,012 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

MSG Entertainment Trading Down 0.2%

NYSE MSGE opened at $37.82 on Friday. The company’s 50-day moving average price is $34.19 and its 200-day moving average price is $34.78. 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 stock has a market cap of $1.54 billion, a PE ratio of 14.38, a PEG ratio of 5.09 and a beta of 0.40. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MSGE shares. 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 research report on Tuesday, March 11th. Macquarie reiterated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th. The Goldman Sachs Group boosted their price objective on shares of MSG Entertainment from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Susquehanna started coverage on shares of MSG Entertainment in a research report on Monday, April 28th. They set a “positive” rating and a $39.00 price objective on the stock.

Insider Transactions at MSG Entertainment

In other news, 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 value of $2,078,747.28. Following the transaction, the insider now directly owns 6,015 shares in the company, valued at approximately $186,224.40. This represents a 91.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.85% of the company’s stock.

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.