Prudential Financial Inc. lowered its position in MSG Networks Inc (NYSE:MSGN) by 38.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,889 shares of the company’s stock after selling 32,600 shares during the quarter. Prudential Financial Inc. owned about 0.08% of MSG Networks worth $1,100,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rockefeller Financial Services Inc. increased its holdings in MSG Networks by 200.0% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock worth $148,000 after acquiring an additional 4,650 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in MSG Networks during the 2nd quarter valued at about $161,000. Victory Capital Management Inc. grew its holdings in MSG Networks by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock valued at $165,000 after buying an additional 1,097 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in MSG Networks by 177.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock valued at $187,000 after buying an additional 5,340 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in MSG Networks during the 2nd quarter valued at about $284,000. 81.76% of the stock is owned by institutional investors.
MSG Networks Inc (MSGN) traded up $0.15 during mid-day trading on Friday, reaching $19.55. The company’s stock had a trading volume of 773,772 shares, compared to its average volume of 667,204. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of -1.35. The stock has a market cap of $1,470.00, a price-to-earnings ratio of 8.78, a PEG ratio of 10.00 and a beta of 0.96. MSG Networks Inc has a 1-year low of $16.15 and a 1-year high of $25.30.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company had revenue of $157.46 million during the quarter, compared to analyst estimates of $157.21 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. MSG Networks’s revenue was up 2.5% on a year-over-year basis. sell-side analysts expect that MSG Networks Inc will post 2.18 EPS for the current fiscal year.
A number of research firms have weighed in on MSGN. ValuEngine lowered MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group reaffirmed a “hold” rating and set a $22.00 target price on shares of MSG Networks in a report on Thursday, September 21st. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Finally, Loop Capital raised MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $23.17.
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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.
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