Swiss National Bank Raises Stock Position in MSG Entertainment (NYSE:MSGE)

Swiss National Bank increased its stake in MSG Entertainment (NYSE:MSGE) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,959 shares of the company’s stock after acquiring an additional 700 shares during the period. Swiss National Bank owned approximately 0.16% of MSG Entertainment worth $2,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MSGE. Bleakley Financial Group LLC grew its holdings in shares of MSG Entertainment by 16.5% during the fourth 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. lifted its position in MSG Entertainment by 8.0% in the fourth quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock valued at $712,000 after purchasing an additional 1,479 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of MSG Entertainment by 21.1% in 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 in the last quarter. New York State Common Retirement Fund boosted its position 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 worth $16,811,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in MSG Entertainment by 18.8% during the fourth quarter. Victory Capital Management Inc. now owns 20,797 shares of the company’s stock worth $740,000 after buying an additional 3,294 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

MSG Entertainment Stock Performance

MSG Entertainment stock opened at $33.95 on Friday. MSG Entertainment has a 12 month low of $30.01 and a 12 month high of $44.14. The stock’s 50-day moving average is $34.97 and its 200-day moving average is $37.28. 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 company has a market cap of $1.39 billion, a price-to-earnings ratio of 12.91, 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 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%. Equities analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current year.

Insider Activity 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MSGE shares. Wolfe Research upgraded MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research report on Tuesday, March 11th. Macquarie restated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a report on Monday, February 10th.

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.