Corebridge Financial Inc. Sells 1,239 Shares of MSG Entertainment (NYSE:MSGE)

Corebridge Financial Inc. trimmed its position in MSG Entertainment (NYSE:MSGE) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,677 shares of the company’s stock after selling 1,239 shares during the period. Corebridge Financial Inc.’s holdings in MSG Entertainment were worth $701,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MSGE. Vanguard Group Inc. lifted its stake in MSG Entertainment by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,917,905 shares of the company’s stock worth $139,477,000 after purchasing an additional 52,731 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of MSG Entertainment in the fourth quarter worth $289,000. Swiss National Bank raised its position in shares of MSG Entertainment by 0.9% in the fourth quarter. Swiss National Bank now owns 76,959 shares of the company’s stock worth $2,740,000 after buying an additional 700 shares in the last quarter. HighTower Advisors LLC boosted its stake in MSG Entertainment by 64.4% during the fourth quarter. HighTower Advisors LLC now owns 24,958 shares of the company’s stock valued at $889,000 after buying an additional 9,779 shares during the period. Finally, AlphaQuest LLC purchased a new position in MSG Entertainment during the fourth quarter worth about $471,000. 96.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MSGE shares. Macquarie reaffirmed an “outperform” rating and issued a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th. Wolfe Research raised 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 research note on Tuesday, March 11th.

Insider Buying and Selling at MSG Entertainment

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

MSG Entertainment Stock Down 5.0 %

Shares of NYSE:MSGE opened at $29.80 on Monday. The firm has a market capitalization of $1.22 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. MSG Entertainment has a 52-week low of $29.20 and a 52-week high of $44.14. The firm has a fifty day moving average of $34.55 and a 200 day moving average of $36.92.

MSG Entertainment (NYSE:MSGE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.56 EPS 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, research analysts anticipate that MSG Entertainment will post 1.04 EPS for the current fiscal year.

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.