The Manufacturers Life Insurance Company Sells 452 Shares of MSG Entertainment (NYSE:MSGE)

The Manufacturers Life Insurance Company lessened its position in MSG Entertainment (NYSE:MSGE) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,671 shares of the company’s stock after selling 452 shares during the period. The Manufacturers Life Insurance Company’s holdings in MSG Entertainment were worth $665,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MSGE. Sterling Capital Management LLC lifted its position in MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock valued at $40,000 after acquiring an additional 1,005 shares during the period. Tower Research Capital LLC TRC grew its position in MSG Entertainment by 26.5% during the fourth 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. Pictet Asset Management Holding SA purchased a new position in MSG Entertainment during the fourth quarter valued at approximately $205,000. EntryPoint Capital LLC purchased a new position in MSG Entertainment during the fourth quarter valued at approximately $221,000. Finally, OFI Invest Asset Management purchased a new position in shares of MSG Entertainment in the fourth quarter worth $270,000. Institutional investors own 96.86% of the company’s stock.

Insider Transactions at MSG Entertainment

In other MSG Entertainment 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 approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.85% of the company’s stock.

MSG Entertainment Stock Performance

NYSE MSGE opened at $38.01 on Friday. MSG Entertainment has a 1-year low of $28.29 and a 1-year high of $44.14. The company has a market cap of $1.54 billion, a P/E ratio of 14.45, a P/E/G ratio of 5.09 and a beta of 0.22. 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 50-day moving average of $32.79 and a two-hundred day moving average of $35.02.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of MSG Entertainment from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Susquehanna started coverage on shares of MSG Entertainment in a research report on Monday, April 28th. They issued a “positive” rating and a $39.00 price objective for the company. Wolfe Research raised shares of MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, March 11th. Finally, Macquarie restated an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a report 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.