MSG Entertainment (NYSE:MSGE) Reaches New 12-Month Low – Time to Sell?

MSG Entertainment (NYSE:MSGE) shares reached a new 52-week low on Friday . The stock traded as low as $29.88 and last traded at $29.79, with a volume of 29483 shares traded. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MSGE. Wolfe Research raised shares of MSG Entertainment from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a report on Tuesday, March 11th. Macquarie reiterated an “outperform” rating and set a $45.00 price target on shares of MSG Entertainment in a report on Monday, February 10th.

MSG Entertainment Price Performance

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 5.09 and a beta of 0.22. The stock’s 50-day moving average price is $34.55 and its 200 day moving average price is $36.94. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61.

MSG Entertainment (NYSE:MSGE) last posted its quarterly earnings results 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%. Equities research analysts predict that MSG Entertainment will post 1.04 earnings per share for the current year.

Insider Activity

In other MSG Entertainment news, insider F. Dolan 2009 Revocabl Charles sold 67,143 shares of MSG Entertainment stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.96, for a total transaction of $2,078,747.28. Following the completion of the transaction, the insider now directly owns 6,015 shares of the company’s stock, valued at approximately $186,224.40. This trade represents a 91.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 17.85% of the company’s stock.

Institutional Investors Weigh In On MSG Entertainment

Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in MSG Entertainment by 785.2% during the fourth 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 last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of MSG Entertainment by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,405 shares of the company’s stock worth $86,000 after acquiring an additional 504 shares in the last quarter. State of Wyoming grew its position 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 acquiring an additional 2,755 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in MSG Entertainment during the 4th quarter valued at $205,000. Finally, EntryPoint Capital LLC bought a new position in MSG Entertainment in the 4th quarter valued at $221,000. 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.