HighTower Advisors LLC Has $889,000 Stock Holdings in MSG Entertainment (NYSE:MSGE)

HighTower Advisors LLC boosted its stake in MSG Entertainment (NYSE:MSGE) by 64.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,958 shares of the company’s stock after buying an additional 9,779 shares during the quarter. HighTower Advisors LLC owned approximately 0.05% of MSG Entertainment worth $889,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MSGE. Exchange Traded Concepts LLC increased its holdings 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 buying an additional 15,756 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of MSG Entertainment by 16.5% during 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 last quarter. Principal Financial Group Inc. increased its stake in shares of MSG Entertainment by 8.0% during 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 last quarter. New York State Common Retirement Fund raised its holdings 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 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. Institutional investors and hedge funds own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

MSGE has been the topic of several recent research reports. Macquarie restated an “outperform” rating and set a $45.00 target price on shares of MSG Entertainment in a report on Monday, February 10th. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, March 11th.

Insider Buying and Selling at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the transaction, the insider now directly owns 6,015 shares in the company, valued at $186,224.40. The trade was a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.85% of the company’s stock.

MSG Entertainment Price Performance

NYSE MSGE opened at $33.95 on Friday. MSG Entertainment has a 1 year low of $30.01 and a 1 year high of $44.14. The company has a fifty day simple moving average of $34.97 and a 200 day simple moving average of $37.28. 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 company has a market cap of $1.39 billion, a P/E ratio of 12.91, a P/E/G ratio of 5.09 and a beta of 0.11.

MSG Entertainment (NYSE:MSGE) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share (EPS) 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%. On average, sell-side analysts predict that MSG Entertainment will post 1.04 EPS for the current year.

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.