MSG Entertainment (NYSE:MSGE) Hits New 1-Year Low – Should You Sell?

MSG Entertainment (NYSE:MSGE)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $29.88 and last traded at $29.79, with a volume of 29483 shares changing hands. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Macquarie reissued an “outperform” rating and set a $45.00 price objective on shares of MSG Entertainment in a research note on Monday, February 10th. Wolfe Research raised MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, March 11th.

MSG Entertainment Trading Down 5.0 %

The company’s 50-day moving average is $34.55 and its 200 day moving average is $36.94. 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 firm has a market cap of $1.22 billion, a PE ratio of 11.33, a P/E/G ratio of 5.09 and a beta of 0.22.

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

Insider Buying and Selling

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.96, for a total value of $2,078,747.28. Following the transaction, the insider now owns 6,015 shares in the company, valued at approximately $186,224.40. This represents a 91.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.85% of the company’s stock.

Institutional Investors Weigh In On MSG Entertainment

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