MSG Entertainment (NYSE:MSGE) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of MSG Entertainment (NYSE:MSGE) from a peer perform rating to an outperform rating in a report released on Tuesday, MarketBeat reports. Wolfe Research currently has $46.00 price target on the stock.

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

MSG Entertainment Stock Performance

Shares of NYSE MSGE opened at $32.39 on Tuesday. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 5.09 and a beta of 0.11. MSG Entertainment has a 1-year low of $30.56 and a 1-year high of $44.14. The stock’s 50-day moving average is $35.48 and its 200 day moving average is $37.94. 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 (NYSE:MSGE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.56 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%. On average, sell-side analysts anticipate that MSG Entertainment will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On MSG Entertainment

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its stake in shares of MSG Entertainment by 785.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock worth $40,000 after buying an additional 1,005 shares during the period. Tower Research Capital LLC TRC increased its position in shares of MSG Entertainment by 26.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock valued at $86,000 after acquiring an additional 504 shares during the period. State of Wyoming increased its position in shares of MSG Entertainment by 216.8% in the fourth quarter. State of Wyoming now owns 4,026 shares of the company’s stock valued at $143,000 after acquiring an additional 2,755 shares during the period. Pictet Asset Management Holding SA purchased a new position in shares of MSG Entertainment in the fourth quarter valued at about $205,000. Finally, EntryPoint Capital LLC purchased a new position in shares of MSG Entertainment in the fourth quarter valued at about $221,000. 96.86% of the stock is 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.