Insider Selling: MSG Entertainment (NYSE:MSGE) Insider Sells $2,078,747.28 in Stock

MSG Entertainment (NYSE:MSGE) insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the 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 sale, the insider now directly owns 6,015 shares of the company’s stock, 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 is available at this link.

MSG Entertainment Trading Down 1.7 %

MSGE traded down $0.54 during trading on Wednesday, hitting $31.85. The company’s stock had a trading volume of 361,157 shares, compared to its average volume of 339,105. MSG Entertainment has a twelve month low of $30.56 and a twelve month high of $44.14. The firm’s 50 day moving average price is $35.48 and its 200-day moving average price is $37.94. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $1.31 billion, a PE ratio of 12.11, a PEG ratio of 5.09 and a beta of 0.11.

MSG Entertainment (NYSE:MSGE) last released its quarterly earnings data 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 negative return on equity of 323.63% and a net margin of 13.15%. On average, analysts expect that MSG Entertainment will post 1.04 earnings per share for the current year.

Institutional Trading of MSG Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its stake in shares of MSG Entertainment by 785.2% during the fourth 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. Tower Research Capital LLC TRC raised its holdings in shares of MSG Entertainment by 26.5% during the 4th 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 period. State of Wyoming lifted its position in MSG Entertainment by 216.8% during the 4th quarter. State of Wyoming now owns 4,026 shares of the company’s stock worth $143,000 after acquiring an additional 2,755 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of MSG Entertainment in the fourth quarter valued at $205,000. Finally, EntryPoint Capital LLC acquired a new stake in MSG Entertainment during the 4th quarter valued at $221,000. 96.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MSGE. 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 report on Tuesday. Macquarie reiterated an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a research note on Monday, February 10th.

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.