Victory Capital Management Inc. Increases Stock Position in MSG Entertainment (NYSE:MSGE)

Victory Capital Management Inc. boosted its stake in MSG Entertainment (NYSE:MSGE) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,797 shares of the company’s stock after purchasing an additional 3,294 shares during the quarter. Victory Capital Management Inc.’s holdings in MSG Entertainment were worth $740,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC increased its holdings 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 buying an additional 1,178 shares during the last quarter. Principal Financial Group Inc. increased its holdings 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 buying an additional 1,479 shares during the last quarter. Handelsbanken Fonder AB increased its holdings 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 worth $328,000 after buying an additional 1,600 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of MSG Entertainment by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock worth $16,811,000 after buying an additional 2,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in MSG Entertainment by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock valued at $12,103,000 after purchasing an additional 5,677 shares during the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Insider Buying and Selling at MSG Entertainment

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’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 completion of the sale, the insider now directly owns 6,015 shares of the company’s stock, valued at $186,224.40. The trade was a 91.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on MSGE. Macquarie reiterated an “outperform” rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th. Wolfe Research upgraded shares of 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.

MSG Entertainment Stock Performance

Shares of NYSE:MSGE opened at $33.73 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 5.09 and a beta of 0.11. MSG Entertainment has a 12 month low of $30.01 and a 12 month high of $44.14. The firm’s 50-day moving average is $35.08 and its 200 day moving average is $37.47. 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 released its quarterly earnings data 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 net margin of 13.15% and a negative return on equity of 323.63%. Research analysts predict that MSG Entertainment will post 1.04 EPS for the current year.

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.