Gamco Investors INC. ET AL Sells 43,333 Shares of MSG Entertainment (NYSE:MSGE)

Gamco Investors INC. ET AL decreased its holdings in shares of MSG Entertainment (NYSE:MSGE) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 698,457 shares of the company’s stock after selling 43,333 shares during the period. Gamco Investors INC. ET AL’s holdings in MSG Entertainment were worth $24,865,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mariner LLC increased its position in shares of MSG Entertainment by 37.8% during the fourth quarter. Mariner LLC now owns 11,907 shares of the company’s stock worth $424,000 after acquiring an additional 3,266 shares in the last quarter. Barclays PLC boosted its stake in MSG Entertainment by 3.2% during the 4th quarter. Barclays PLC now owns 68,174 shares of the company’s stock valued at $2,427,000 after purchasing an additional 2,129 shares during the last quarter. Sterling Capital Management LLC increased its holdings in MSG Entertainment by 785.2% during 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 in the last quarter. Wells Fargo & Company MN raised its stake in shares of MSG Entertainment by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 76,231 shares of the company’s stock worth $2,714,000 after purchasing an additional 4,050 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of MSG Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 943,475 shares of the company’s stock valued at $33,596,000 after purchasing an additional 5,012 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Insider Activity

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.96, for a total value of $2,078,747.28. Following the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.85% of the company’s stock.

Wall Street Analyst Weigh In

MSGE has been the subject of a number of analyst reports. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research report on Tuesday, March 11th. Macquarie reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th.

MSG Entertainment Stock Up 2.5 %

Shares of NYSE:MSGE opened at $31.05 on Tuesday. MSG Entertainment has a 1 year low of $28.29 and a 1 year high of $44.14. The company has a market capitalization of $1.27 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The business has a fifty day moving average price of $33.64 and a two-hundred day moving average price of $36.32. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.

MSG Entertainment (NYSE:MSGE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.56 earnings per share 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 323.63%. Analysts forecast that MSG Entertainment will post 1.04 earnings per share for the current 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.