State of Wyoming Raises Position in MSG Entertainment (NYSE:MSGE)

State of Wyoming lifted its stake in shares of MSG Entertainment (NYSE:MSGE) by 216.8% in the 4th quarter, HoldingsChannel reports. The firm owned 4,026 shares of the company’s stock after buying an additional 2,755 shares during the quarter. State of Wyoming’s holdings in MSG Entertainment were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MSGE. Ariel Investments LLC grew its stake in 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 buying an additional 964,657 shares in the last quarter. Norges Bank purchased a new position in shares of MSG Entertainment during the 4th quarter valued at $13,454,000. Jericho Capital Asset Management L.P. grew its position in shares of MSG Entertainment by 10.9% during 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 purchasing an additional 268,000 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of MSG Entertainment by 81.7% during the 4th 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. Finally, Arrowstreet Capital Limited Partnership grew 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 valued at $12,490,000 after purchasing an additional 182,478 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Analyst Ratings Changes

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

MSG Entertainment Price Performance

Shares of NYSE MSGE opened at $36.62 on Tuesday. MSG Entertainment has a 1 year low of $28.29 and a 1 year high of $44.14. 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 company’s 50-day moving average is $33.54 and its 200 day moving average is $34.72. The stock has a market capitalization of $1.49 billion, a P/E ratio of 13.92, a P/E/G ratio of 5.09 and a beta of 0.22.

Insider Activity at MSG Entertainment

In related news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the business’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 transaction, the insider now owns 6,015 shares in the company, valued at $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 is available through this hyperlink. 17.85% of the stock is owned by corporate insiders.

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.