Dendur Capital LP Purchases New Stake in MSG Entertainment (NYSE:MSGE)

Dendur Capital LP purchased a new position in MSG Entertainment (NYSE:MSGE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 147,644 shares of the company’s stock, valued at approximately $5,256,000. MSG Entertainment accounts for about 0.5% of Dendur Capital LP’s investment portfolio, making the stock its 17th biggest position.

Several other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of MSG Entertainment by 111.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock valued at $1,063,000 after purchasing an additional 15,756 shares in the last quarter. Alliancebernstein L.P. grew its holdings in MSG Entertainment by 81.7% during the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company’s stock valued at $14,704,000 after buying an additional 185,670 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of MSG Entertainment by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 339,977 shares of the company’s stock valued at $12,103,000 after buying an additional 5,677 shares during the period. JPMorgan Chase & Co. increased its position in shares of MSG Entertainment by 77.5% during the fourth quarter. JPMorgan Chase & Co. now owns 139,742 shares of the company’s stock valued at $4,975,000 after buying an additional 61,028 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of MSG Entertainment by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company’s stock worth $139,477,000 after buying an additional 52,731 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MSGE shares. Wolfe Research raised 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 report on Tuesday, March 11th. Macquarie reaffirmed an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

MSG Entertainment Stock Performance

NYSE:MSGE opened at $30.49 on Wednesday. The stock has a market cap of $1.25 billion, a P/E ratio of 11.59, a PEG ratio of 5.09 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The business’s 50-day moving average price is $32.79 and its two-hundred day moving average price is $35.88. MSG Entertainment has a twelve month low of $28.29 and a twelve month high of $44.14.

MSG Entertainment (NYSE:MSGE) last announced its 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 323.63%. As a group, equities analysts predict that MSG Entertainment will post 1.04 EPS 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 that occurred 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 completion of the sale, the insider now owns 6,015 shares in the company, valued at $186,224.40. The trade was a 91.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.85% of the stock is owned by insiders.

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.