MSG Entertainment (NYSE:MSGE) Reaches New 52-Week Low - Here's Why

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

Wall Street Analyst Weigh In

Separately, Macquarie restated 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 company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 56.61. The firm has a fifty day moving average price of $35.68 and a two-hundred day moving average price of $38.19. The stock has a market capitalization of $1.31 billion, a P/E ratio of 12.14, a P/E/G ratio of 5.09 and a beta of 0.11.

MSG Entertainment (NYSE:MSGE - Get Free Report) last issued its quarterly 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 net margin of 13.15% and a negative return on equity of 323.63%. On average, analysts expect that MSG Entertainment will post 1.04 EPS for the current year.

Hedge Funds Weigh In On MSG Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 504 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in MSG Entertainment by 4.3% in the 4th quarter. Ameriprise Financial Inc. now owns 12,431 shares of the company's stock worth $443,000 after buying an additional 509 shares in the last quarter. Swiss National Bank increased its holdings in MSG Entertainment by 0.9% in the 4th quarter. Swiss National Bank now owns 76,959 shares of the company's stock worth $2,740,000 after buying an additional 700 shares in the last quarter. Sterling Capital Management LLC increased its holdings in MSG Entertainment by 785.2% in 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MSG Entertainment by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,486 shares of the company's stock worth $801,000 after buying an additional 1,005 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors.

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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.