Geode Capital Management LLC Has $33.60 Million Holdings in MSG Entertainment (NYSE:MSGE)

Geode Capital Management LLC increased its holdings in shares of MSG Entertainment (NYSE:MSGE) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 943,475 shares of the company’s stock after purchasing an additional 5,012 shares during the quarter. Geode Capital Management LLC owned approximately 2.30% of MSG Entertainment worth $33,596,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of MSG Entertainment during the 4th quarter worth about $13,454,000. Alliancebernstein L.P. grew its stake in MSG Entertainment by 81.7% in the fourth quarter. Alliancebernstein L.P. now owns 413,042 shares of the company’s stock valued at $14,704,000 after purchasing an additional 185,670 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of MSG Entertainment by 108.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company’s stock worth $12,490,000 after purchasing an additional 182,478 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of MSG Entertainment by 77.5% during the 4th quarter. JPMorgan Chase & Co. now owns 139,742 shares of the company’s stock worth $4,975,000 after purchasing an additional 61,028 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of MSG Entertainment by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company’s stock valued at $139,477,000 after buying an additional 52,731 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

MSG Entertainment Stock Performance

Shares of NYSE MSGE opened at $30.22 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The company has a market capitalization of $1.24 billion, a P/E ratio of 11.49, a P/E/G ratio of 5.09 and a beta of 0.22. MSG Entertainment has a 12 month low of $28.29 and a 12 month high of $44.14. The stock has a 50 day moving average of $33.41 and a 200-day moving average of $36.24.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings data 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%. As a group, equities research analysts predict that MSG Entertainment will post 1.04 EPS for the current year.

Insiders Place Their Bets

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the transaction, the insider now owns 6,015 shares in the company, valued at $186,224.40. This trade represents a 91.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 17.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MSGE. Wolfe Research upgraded 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 restated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research note 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.