Macquarie Reiterates “Outperform” Rating for MSG Entertainment (NYSE:MSGE)

Macquarie reissued their outperform rating on shares of MSG Entertainment (NYSE:MSGE) in a research note released on Monday,Benzinga reports. They currently have a $45.00 price target on the stock.

MSG Entertainment Trading Up 1.3 %

Shares of MSG Entertainment stock opened at $38.47 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 3.26 and a beta of 0.05. The firm’s 50 day moving average is $35.42 and its 200 day moving average is $38.46. MSG Entertainment has a 1 year low of $32.40 and a 1 year high of $44.14.

MSG Entertainment (NYSE:MSGE) last announced 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%. As a group, research analysts anticipate that MSG Entertainment will post 1.58 earnings per share for the current year.

Institutional Investors Weigh In On MSG Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its holdings in 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 acquiring an additional 15,756 shares during the last quarter. Bleakley Financial Group LLC grew its holdings 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 acquiring an additional 1,178 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 acquiring an additional 1,479 shares during the last quarter. New York State Common Retirement Fund grew its holdings in 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 acquiring an additional 2,971 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in MSG Entertainment by 21.1% during the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock worth $328,000 after acquiring an additional 1,600 shares during the last quarter. 96.86% of the stock is owned by institutional investors.

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.