Charles Schwab Investment Management Inc. Has $12.10 Million Holdings in MSG Entertainment (NYSE:MSGE)

Charles Schwab Investment Management Inc. grew its position in MSG Entertainment (NYSE:MSGE) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,977 shares of the company’s stock after buying an additional 5,677 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.71% of MSG Entertainment worth $12,103,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MSGE. Bank of New York Mellon Corp lifted its stake in MSG Entertainment by 32.7% in the fourth quarter. Bank of New York Mellon Corp now owns 151,142 shares of the company’s stock valued at $5,381,000 after acquiring an additional 37,240 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of MSG Entertainment by 131.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company’s stock valued at $563,000 after purchasing an additional 8,983 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of MSG Entertainment by 21.1% in the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $328,000 after purchasing an additional 1,600 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in MSG Entertainment by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock worth $16,811,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in MSG Entertainment by 8.0% during the fourth quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock worth $712,000 after buying an additional 1,479 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the sale, the insider now directly owns 6,015 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Insiders own 17.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MSGE shares. Wolfe Research upgraded MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, March 11th. Macquarie reiterated an “outperform” rating and issued a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th.

MSG Entertainment Stock Down 0.9 %

Shares of MSGE stock opened at $33.73 on Friday. MSG Entertainment has a one year low of $30.01 and a one year high of $44.14. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a fifty day moving average price of $35.08 and a 200 day moving average price of $37.47. The stock has a market cap of $1.38 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11.

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 analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a net margin of 13.15% and a negative return on equity of 323.63%. Analysts predict that MSG Entertainment will post 1.04 earnings per share for the current year.

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.