GSA Capital Partners LLP Acquires 12,872 Shares of MSG Networks Inc (NYSE:MSGN)

GSA Capital Partners LLP grew its stake in shares of MSG Networks Inc (NYSE:MSGN) by 25.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,234 shares of the company’s stock after buying an additional 12,872 shares during the period. GSA Capital Partners LLP owned 0.08% of MSG Networks worth $1,341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of MSG Networks by 1.7% during the second quarter. Legal & General Group Plc now owns 24,804 shares of the company’s stock valued at $557,000 after buying an additional 408 shares during the period. HighTower Advisors LLC increased its position in shares of MSG Networks by 3.3% during the second quarter. HighTower Advisors LLC now owns 20,039 shares of the company’s stock valued at $448,000 after buying an additional 648 shares during the period. Victory Capital Management Inc. increased its position in shares of MSG Networks by 17.6% during the second 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 during the period. Rhumbline Advisers increased its position in shares of MSG Networks by 2.7% during the second quarter. Rhumbline Advisers now owns 80,510 shares of the company’s stock valued at $1,807,000 after buying an additional 2,098 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of MSG Networks by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 253,057 shares of the company’s stock valued at $5,682,000 after buying an additional 2,307 shares during the period. Hedge funds and other institutional investors own 81.72% of the company’s stock.

MSG Networks Inc (NYSE MSGN) traded up $0.35 during mid-day trading on Friday, hitting $21.60. 622,041 shares of the company traded hands, compared to its average volume of 645,044. MSG Networks Inc has a one year low of $16.15 and a one year high of $25.30. 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 company has a market capitalization of $1,550.00, a PE ratio of 9.73, a price-to-earnings-growth ratio of 211.52 and a beta of 0.96.

MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The business had revenue of $157.46 million for the quarter, compared to analysts’ expectations of $157.21 million. During the same period last year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts anticipate that MSG Networks Inc will post 2.18 earnings per share for the current fiscal year.

MSG Networks declared that its Board of Directors has approved a share repurchase plan on Friday, December 8th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several research analysts recently weighed in on the stock. Morgan Stanley cut shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective on the stock. in a research report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Loop Capital upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, October 11th. Jefferies Group decreased their price objective on shares of MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Finally, ValuEngine cut shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.20.

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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.

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

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