State Street Corp Has $29.29 Million Position in MSG Networks Inc. (MSGN)

State Street Corp increased its stake in shares of MSG Networks Inc. (NYSE:MSGN) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,304,687 shares of the company’s stock after purchasing an additional 66,007 shares during the period. State Street Corp owned approximately 2.12% of MSG Networks worth $29,290,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MSGN. UBS Asset Management Americas Inc. grew its stake in shares of MSG Networks by 61.9% during the first quarter. UBS Asset Management Americas Inc. now owns 24,274 shares of the company’s stock worth $567,000 after purchasing an additional 9,282 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of MSG Networks by 17.5% during the first quarter. Parametric Portfolio Associates LLC now owns 55,565 shares of the company’s stock worth $1,297,000 after purchasing an additional 8,282 shares during the period. FMR LLC acquired a new stake in shares of MSG Networks during the first quarter worth $7,682,000. Teachers Advisors LLC grew its stake in shares of MSG Networks by 2.0% during the first quarter. Teachers Advisors LLC now owns 356,633 shares of the company’s stock worth $8,327,000 after purchasing an additional 6,928 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in MSG Networks by 5.0% during the first quarter. California Public Employees Retirement System now owns 133,100 shares of the company’s stock worth $3,108,000 after acquiring an additional 6,300 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.

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MSG Networks Inc. (NYSE:MSGN) opened at $17.20 on Friday. The firm has a market capitalization of $1,291.46, a PE ratio of 7.78, a price-to-earnings-growth ratio of 8.83 and a beta of 0.74. MSG Networks Inc. has a twelve month low of $16.45 and a twelve month 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.

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. The company had revenue of $157.46 million for the quarter, compared to analyst estimates of $157.21 million. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. equities analysts predict that MSG Networks Inc. will post 2.19 EPS for the current year.

MSGN has been the topic of several recent analyst reports. ValuEngine lowered MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Loop Capital upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, October 11th. Jefferies Group LLC reduced their target price on MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Finally, FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.86.

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

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