MSG Entertainment (NYSE:MSGE) Shares Bought by Swiss National Bank

Swiss National Bank increased its holdings in MSG Entertainment (NYSE:MSGE) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 76,959 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Swiss National Bank’s holdings in MSG Entertainment were worth $2,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of MSGE. Exchange Traded Concepts LLC raised its stake in shares of MSG Entertainment by 111.7% in the 4th 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 in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of MSG Entertainment by 16.5% in the fourth 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 period. Principal Financial Group Inc. grew its position in 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 in the last quarter. New York State Common Retirement Fund grew its holdings in shares of MSG Entertainment by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 472,232 shares of the company’s stock valued at $16,811,000 after buying an additional 2,971 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $328,000 after acquiring an additional 1,600 shares in the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,015 shares in the company, valued at $186,224.40. This represents a 91.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.85% of the stock is currently owned by company insiders.

MSG Entertainment Stock Up 1.0 %

MSGE opened at $33.95 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. The business has a 50 day moving average price of $34.97 and a 200 day moving average price of $37.28. MSG Entertainment has a twelve month low of $30.01 and a twelve month high of $44.14.

MSG Entertainment (NYSE:MSGE) last posted 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 negative return on equity of 323.63% and a net margin of 13.15%. Research analysts forecast that MSG Entertainment will post 1.04 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wolfe Research raised 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 research note on Tuesday, March 11th. Macquarie restated an “outperform” rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

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.