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

MSG Entertainment (NYSE:MSGE) hit a new 52-week low on Wednesday . The company traded as low as $32.30 and last traded at $32.53, with a volume of 93982 shares traded. The stock had previously closed at $32.98.

Analyst Ratings Changes

Separately, Macquarie reaffirmed 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 stock’s 50-day moving average is $35.71 and its 200 day moving average is $38.27. The company has a market cap of $1.34 billion, a PE ratio of 12.43, a PEG ratio of 5.09 and a beta of 0.05. The company has a debt-to-equity ratio of 56.61, a current ratio of 0.54 and a quick ratio of 0.54.

MSG Entertainment (NYSE:MSGE) last announced its earnings results on Thursday, February 6th. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate 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, equities analysts anticipate that MSG Entertainment will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MSG Entertainment

Several hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in MSG Entertainment during the 4th quarter worth approximately $3,111,000. Mackenzie Financial Corp lifted its stake in shares of MSG Entertainment by 112.1% during the fourth quarter. Mackenzie Financial Corp now owns 20,492 shares of the company’s stock worth $730,000 after buying an additional 10,831 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MSG Entertainment by 14.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,999 shares of the company’s stock valued at $2,492,000 after buying an additional 9,032 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of MSG Entertainment during the fourth quarter valued at $860,000. Finally, State of Wyoming increased its position in shares of MSG Entertainment by 216.8% in the 4th quarter. State of Wyoming now owns 4,026 shares of the company’s stock valued at $143,000 after acquiring an additional 2,755 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.

MSG Entertainment Company Profile

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.