Chicago Equity Partners LLC Grows Stake in MSG Networks Inc. (NYSE:MSGN)

Chicago Equity Partners LLC boosted its position in MSG Networks Inc. (NYSE:MSGN) by 54.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,575 shares of the company’s stock after acquiring an additional 42,275 shares during the period. Chicago Equity Partners LLC owned 0.19% of MSG Networks worth $2,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. UBS Asset Management Americas Inc. boosted its stake in shares of MSG Networks by 38.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,649 shares of the company’s stock valued at $755,000 after purchasing an additional 9,375 shares in the last quarter. FMR LLC boosted its stake in shares of MSG Networks by 30.6% during the 2nd quarter. FMR LLC now owns 429,600 shares of the company’s stock valued at $9,645,000 after purchasing an additional 100,600 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of MSG Networks by 222.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,855 shares of the company’s stock valued at $276,000 after purchasing an additional 8,173 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MSG Networks by 153.4% during the 2nd quarter. Principal Financial Group Inc. now owns 37,767 shares of the company’s stock valued at $848,000 after purchasing an additional 22,863 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of MSG Networks by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock valued at $29,243,000 after purchasing an additional 358,009 shares in the last quarter. 77.50% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have recently weighed in on MSGN. ValuEngine lowered shares of MSG Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Loop Capital raised shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, October 11th. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Finally, FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.86.

MSG Networks Inc. (NYSE MSGN) opened at $17.25 on Tuesday. The company has a debt-to-equity ratio of -1.35, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market cap of $1,301.55, a PE ratio of 7.83, a P/E/G ratio of 8.97 and a beta of 0.74. MSG Networks Inc. has a 12-month low of $16.15 and a 12-month high of $25.30.

MSG Networks (NYSE:MSGN) last issued its earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. equities analysts anticipate that MSG Networks Inc. will post 2.17 earnings per share for the current year.

About MSG Networks

MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.

Institutional Ownership by Quarter for MSG Networks (NYSE:MSGN)

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