Pinnbrook Capital Management LP Sells 61,028 Shares of MSG Entertainment (NYSE:MSGE)

Pinnbrook Capital Management LP lessened its holdings in MSG Entertainment (NYSE:MSGE) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,660 shares of the company’s stock after selling 61,028 shares during the period. Pinnbrook Capital Management LP owned 0.17% of MSG Entertainment worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Bleakley Financial Group LLC increased its position in 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 buying an additional 1,178 shares during the period. Principal Financial Group Inc. grew its holdings 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 in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of MSG Entertainment by 111.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock worth $1,063,000 after purchasing an additional 15,756 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie reaffirmed an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th.

MSG Entertainment Trading Down 1.0 %

NYSE MSGE opened at $37.81 on Tuesday. The firm’s 50 day simple moving average is $35.45 and its 200 day simple moving average is $38.44. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 3.26 and a beta of 0.05. MSG Entertainment has a 1 year low of $32.40 and a 1 year high of $44.14.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings results 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 227.66%. On average, equities research analysts forecast that MSG Entertainment will post 1.58 earnings per share 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.