First Quadrant L P CA Takes Position in MSG Entertainment (NASDAQ:MSGE)

First Quadrant L P CA acquired a new stake in MSG Entertainment (NASDAQ:MSGE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,908 shares of the company’s stock, valued at approximately $443,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new stake in MSG Entertainment in the second quarter valued at approximately $65,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of MSG Entertainment in the second quarter valued at $98,000. Nisa Investment Advisors LLC acquired a new stake in MSG Entertainment in the second quarter valued at $394,000. Nissay Asset Management Corp Japan ADV acquired a new stake in MSG Entertainment in the second quarter valued at $1,334,000. Finally, Raymond James & Associates acquired a new stake in MSG Entertainment in the second quarter valued at $10,250,000.

In other news, SVP Joseph F. Yospe sold 6,450 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $76.39, for a total transaction of $492,715.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MSGE opened at $70.86 on Friday. The firm has a 50-day moving average of $74.20. MSG Entertainment has a 52-week low of $58.67 and a 52-week high of $172.47.

MSG Entertainment (NASDAQ:MSGE) last posted its quarterly earnings data on Monday, May 18th. The company reported ($5.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.15) by ($1.21). The firm had revenue of $199.90 million for the quarter, compared to the consensus estimate of $36.95 million. MSG Entertainment’s revenue for the quarter was down 20.0% on a year-over-year basis.

A number of analysts have weighed in on the stock. Gabelli assumed coverage on shares of MSG Entertainment in a report on Monday, April 27th. They set a “buy” rating on the stock. Imperial Capital assumed coverage on shares of MSG Entertainment in a report on Monday, July 13th. They issued an “in-line” rating and a $73.00 price objective on the stock. Zacks Investment Research cut shares of MSG Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, July 1st. Oppenheimer assumed coverage on shares of MSG Entertainment in a report on Monday, April 20th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on shares of MSG Entertainment in a report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. MSG Entertainment currently has an average rating of “Buy” and a consensus target price of $99.25.

About MSG Entertainment

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Institutional Ownership by Quarter for MSG Entertainment (NASDAQ:MSGE)

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