EntryPoint Capital LLC Takes Position in MSG Entertainment (NYSE:MSGE)

EntryPoint Capital LLC bought a new stake in MSG Entertainment (NYSE:MSGE) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,198 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently added to or reduced their stakes in MSGE. OFI Invest Asset Management acquired a new position in shares of MSG Entertainment in the fourth quarter worth about $270,000. KLP Kapitalforvaltning AS purchased a new position in shares of MSG Entertainment in the 4th quarter valued at about $289,000. Bleakley Financial Group LLC raised its holdings in MSG Entertainment by 16.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company’s stock worth $296,000 after purchasing an additional 1,178 shares during the period. Handelsbanken Fonder AB boosted its position in MSG Entertainment by 21.1% during the fourth quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock worth $328,000 after purchasing an additional 1,600 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in MSG Entertainment in the fourth quarter valued at approximately $471,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

MSG Entertainment Stock Down 0.4 %

MSGE opened at $33.75 on Friday. The company has a market cap of $1.38 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11. MSG Entertainment has a twelve month low of $30.01 and a twelve month high of $44.14. The company has a 50-day moving average price of $34.93 and a 200 day moving average price of $37.23. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61.

MSG Entertainment (NYSE:MSGE) last announced its earnings results on Thursday, February 6th. The company reported $1.56 EPS 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 323.63%. Sell-side analysts expect that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Insider Activity at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 6,015 shares in the company, valued at approximately $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 can be accessed through the SEC website. 17.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, March 11th. Macquarie reissued an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

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.