BNP Paribas Financial Markets Takes Position in MSG Entertainment (NYSE:MSGE)

BNP Paribas Financial Markets acquired a new stake in MSG Entertainment (NYSE:MSGE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,780 shares of the company’s stock, valued at approximately $1,167,000. BNP Paribas Financial Markets owned approximately 0.07% of MSG Entertainment at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MSGE. Ariel Investments LLC grew its holdings in shares of MSG Entertainment by 14.5% in the 4th 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 in the last quarter. Norges Bank bought a new position in shares of MSG Entertainment in the 4th quarter valued at about $13,454,000. Jericho Capital Asset Management L.P. grew its holdings in shares of MSG Entertainment by 10.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 2,733,724 shares of the company’s stock valued at $97,321,000 after acquiring an additional 268,000 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of MSG Entertainment by 81.7% in the 4th quarter. Alliancebernstein L.P. now owns 413,042 shares of the company’s stock valued at $14,704,000 after acquiring an additional 185,670 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of MSG Entertainment by 108.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 350,829 shares of the company’s stock valued at $12,490,000 after acquiring an additional 182,478 shares in the last quarter. Institutional investors own 96.86% of the company’s stock.

MSG Entertainment Trading Up 1.1%

Shares of NYSE:MSGE opened at $38.75 on Tuesday. MSG Entertainment has a 52-week low of $28.29 and a 52-week high of $44.14. The company has a market capitalization of $1.57 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The company has a 50-day simple moving average of $33.05 and a 200 day simple moving average of $34.88. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Macquarie restated an “outperform” rating and issued a $45.00 price objective on shares of MSG Entertainment in a report on Monday, February 10th. Susquehanna initiated coverage on shares of MSG Entertainment in a research note on Monday, April 28th. They issued a “positive” rating and a $39.00 target price for the company. The Goldman Sachs Group raised their target price 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. Finally, Wolfe Research upgraded shares of MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, March 11th.

Insiders Place Their Bets

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 6,015 shares in the company, valued at $186,224.40. This trade represents a 91.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 17.85% of the company’s stock.

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.