MSG Entertainment (NYSE:MSGE) Insider Sells $2,078,747.28 in Stock

MSG Entertainment (NYSE:MSGE) insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm’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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MSG Entertainment Stock Performance

NYSE:MSGE opened at $31.58 on Friday. MSG Entertainment has a 1 year low of $30.01 and a 1 year high of $44.14. The firm’s fifty day simple moving average is $35.22 and its 200 day simple moving average is $37.77. 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 firm has a market capitalization of $1.29 billion, a PE ratio of 12.01, a PEG ratio of 5.09 and a beta of 0.11.

MSG Entertainment (NYSE:MSGE) last posted 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 negative return on equity of 323.63% and a net margin of 13.15%. On average, sell-side analysts anticipate that MSG Entertainment will post 1.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MSGE. Macquarie reiterated an “outperform” rating and issued a $45.00 target price on shares of MSG Entertainment in a research note 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 target price on the stock in a research note on Tuesday.

Institutional Trading of MSG Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in MSG Entertainment by 785.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock worth $40,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC grew its position in MSG Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after purchasing an additional 504 shares during the last quarter. State of Wyoming grew its position in MSG Entertainment by 216.8% in the 4th quarter. State of Wyoming now owns 4,026 shares of the company’s stock worth $143,000 after purchasing an additional 2,755 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in MSG Entertainment in the 4th quarter worth $205,000. Finally, EntryPoint Capital LLC acquired a new stake in MSG Entertainment in the 4th quarter worth $221,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.

About MSG Entertainment

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.