MSG Entertainment (NYSE:MSGE) Receives Outperform Rating from Macquarie

Macquarie reiterated their outperform rating on shares of MSG Entertainment (NYSE:MSGE) in a research report report published on Monday,Benzinga reports. Macquarie currently has a $45.00 price objective on the stock.

MSG Entertainment Stock Performance

NYSE MSGE opened at $37.67 on Monday. MSG Entertainment has a 52-week low of $32.40 and a 52-week high of $44.14. The company has a fifty day moving average of $35.41 and a 200-day moving average of $38.48. The company has a market capitalization of $1.81 billion, a P/E ratio of 14.32, a P/E/G ratio of 3.26 and a beta of 0.05.

MSG Entertainment (NYSE:MSGE) last released its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share 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 forecast that MSG Entertainment will post 1.58 EPS for the current fiscal year.

Institutional Trading of MSG Entertainment

A number of institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in MSG Entertainment by 111.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock worth $1,063,000 after acquiring an additional 15,756 shares during the period. Bleakley Financial Group LLC lifted its position in shares of 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 during the period. Principal Financial Group Inc. lifted its position in shares of MSG Entertainment by 8.0% in the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock worth $712,000 after purchasing an additional 1,479 shares during the period. New York State Common Retirement Fund boosted its stake in shares of MSG Entertainment by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock valued at $16,811,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of MSG Entertainment by 21.1% during the fourth quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $328,000 after buying an additional 1,600 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

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.