MSG Entertainment (NYSE:MSGE) Reaches New 52-Week Low – Should You Sell?

MSG Entertainment (NYSE:MSGE) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $30.56 and last traded at $30.65, with a volume of 408941 shares changing hands. The stock had previously closed at $31.85.

Analyst Upgrades and Downgrades

Separately, Macquarie restated an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research report on Monday, February 10th.

MSG Entertainment Price Performance

The firm has a market cap of $1.26 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 5.09 and a beta of 0.11. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 56.61. The business has a 50-day moving average of $35.55 and a two-hundred day moving average of $38.01.

MSG Entertainment (NYSE:MSGE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.60). MSG Entertainment had a negative return on equity of 323.63% and a net margin of 13.15%. On average, sell-side analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MSG Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of MSGE. Exchange Traded Concepts LLC grew its position in shares of MSG Entertainment by 111.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,860 shares of the company’s stock valued at $1,063,000 after buying an additional 15,756 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of MSG Entertainment by 131.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,802 shares of the company’s stock valued at $563,000 after buying an additional 8,983 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of MSG Entertainment by 21.1% in the 4th quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $328,000 after buying an additional 1,600 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of MSG Entertainment by 16.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,320 shares of the company’s stock valued at $296,000 after buying an additional 1,178 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of MSG Entertainment by 8.0% in the 4th quarter. Principal Financial Group Inc. now owns 20,011 shares of the company’s stock valued at $712,000 after buying an additional 1,479 shares during the last quarter. Institutional investors own 96.86% of the company’s stock.

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.