Bank of America Corp DE Has $20.85 Million Stock Holdings in MSG Entertainment (NYSE:MSGE)

Bank of America Corp DE grew its holdings in MSG Entertainment (NYSE:MSGE) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 585,638 shares of the company’s stock after buying an additional 8,592 shares during the quarter. Bank of America Corp DE owned approximately 1.22% of MSG Entertainment worth $20,849,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in MSG Entertainment in the fourth quarter valued at about $1,167,000. Ameriprise Financial Inc. boosted its holdings in MSG Entertainment by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 12,431 shares of the company’s stock valued at $443,000 after acquiring an additional 509 shares during the last quarter. Ariel Investments LLC boosted its holdings in MSG Entertainment by 14.5% in the fourth quarter. Ariel Investments LLC now owns 7,604,543 shares of the company’s stock valued at $270,722,000 after acquiring an additional 964,657 shares during the last quarter. Freestone Grove Partners LP bought a new position in MSG Entertainment in the fourth quarter valued at about $233,000. Finally, Voleon Capital Management LP bought a new position in MSG Entertainment in the fourth quarter valued at about $1,798,000. Institutional investors own 96.86% of the company’s stock.

MSG Entertainment Stock Up 1.1%

NYSE:MSGE opened at $38.75 on Tuesday. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. MSG Entertainment has a twelve month low of $28.29 and a twelve month high of $44.14. The stock’s 50 day moving average price is $33.05 and its two-hundred day moving average price is $34.88. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 6,015 shares in the company, valued at approximately $186,224.40. The trade was a 91.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MSGE. The Goldman Sachs Group raised their target price on MSG Entertainment from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Macquarie reissued an “outperform” rating and issued a $45.00 target price on shares of MSG Entertainment in a research report on Monday, February 10th. Susquehanna began coverage on MSG Entertainment in a research report on Monday, April 28th. They issued a “positive” rating and a $39.00 target price on the stock. Finally, Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Tuesday, March 11th.

MSG Entertainment 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.