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

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

Analyst Upgrades and Downgrades

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

MSG Entertainment Price Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 5.09 and a beta of 0.11. The company has a debt-to-equity ratio of 56.61, a quick ratio of 0.54 and a current ratio of 0.54. The business has a 50 day moving average price of $35.55 and a 200-day moving average price of $38.01.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in MSG Entertainment by 785.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,133 shares of the company’s stock worth $40,000 after buying an additional 1,005 shares during the period. Tower Research Capital LLC TRC raised its stake in MSG Entertainment by 26.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after buying an additional 504 shares during the period. State of Wyoming raised its stake in MSG Entertainment by 216.8% during the 4th quarter. State of Wyoming now owns 4,026 shares of the company’s stock worth $143,000 after buying an additional 2,755 shares during the period. Pictet Asset Management Holding SA acquired a new position in MSG Entertainment during the 4th quarter worth approximately $205,000. Finally, EntryPoint Capital LLC acquired a new position in MSG Entertainment during the 4th quarter worth approximately $221,000. 96.86% of the stock is owned by institutional investors and hedge funds.

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.