MSG Entertainment (NYSE:MSGE) Short Interest Down 32.1% in January

MSG Entertainment (NYSE:MSGE) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,290,000 shares, a decline of 32.1% from the January 15th total of 1,900,000 shares. Based on an average trading volume of 447,300 shares, the short-interest ratio is presently 2.9 days. Currently, 3.2% of the shares of the company are short sold.

Hedge Funds Weigh In On MSG Entertainment

Several hedge funds have recently modified their holdings of MSGE. Sterling Capital Management LLC boosted its holdings in shares of MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock valued at $40,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in MSG Entertainment by 26.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock valued at $86,000 after buying an additional 504 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in MSG Entertainment during the 4th quarter valued at approximately $205,000. EntryPoint Capital LLC purchased a new position in MSG Entertainment during the 4th quarter valued at approximately $221,000. Finally, Freestone Grove Partners LP bought a new stake in MSG Entertainment in the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Wall Street Analyst Weigh In

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

MSG Entertainment Trading Down 1.0 %

NYSE MSGE traded down $0.36 on Friday, reaching $37.81. 298,932 shares of the stock were exchanged, compared to its average volume of 356,412. MSG Entertainment has a one year low of $32.40 and a one year high of $44.14. The firm has a market capitalization of $1.82 billion, a PE ratio of 14.37, a PEG ratio of 3.26 and a beta of 0.05. The company’s 50-day simple moving average is $35.43 and its two-hundred day simple moving average is $38.44.

MSG Entertainment (NYSE:MSGE) last released its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a net margin of 13.15% and a negative return on equity of 227.66%. Sell-side analysts forecast that MSG Entertainment will post 1.58 earnings per share for the current fiscal year.

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.