Thompson Siegel & Walmsley LLC lifted its holdings in shares of MSG Networks Inc (NYSE:MSGN) by 9.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 943,352 shares of the company’s stock after acquiring an additional 81,650 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 1.26% of MSG Networks worth $19,999,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in shares of MSG Networks during the 1st quarter valued at $7,682,000. Teachers Advisors LLC raised its holdings in shares of MSG Networks by 2.0% during the 1st quarter. Teachers Advisors LLC now owns 356,633 shares of the company’s stock worth $8,327,000 after buying an additional 6,928 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of MSG Networks by 17.6% during the 1st quarter. Legal & General Group Plc now owns 24,396 shares of the company’s stock worth $570,000 after buying an additional 3,645 shares in the last quarter. Morgan Stanley raised its holdings in shares of MSG Networks by 44.5% during the 1st quarter. Morgan Stanley now owns 311,207 shares of the company’s stock worth $7,267,000 after buying an additional 95,884 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of MSG Networks by 33,563.0% during the 1st quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock worth $91,038,000 after buying an additional 3,887,263 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
Shares of MSG Networks Inc (NYSE MSGN) traded up $0.45 during trading hours on Thursday, reaching $19.40. The company’s stock had a trading volume of 441,544 shares, compared to its average volume of 563,230. The company has a market capitalization of $1,452.02, a price-to-earnings ratio of 8.73, a P/E/G ratio of 9.95 and a beta of 0.75. MSG Networks Inc has a 1-year low of $16.15 and a 1-year high of $25.30. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $157.21 million. During the same period last year, the business posted $0.54 earnings per share. MSG Networks’s revenue was up 2.5% on a year-over-year basis. equities research analysts expect that MSG Networks Inc will post 2.18 earnings per share for the current year.
A number of brokerages have issued reports on MSGN. FBN Securities raised MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. ValuEngine cut 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 issued a $22.00 target price on shares of MSG Networks in a report on Monday, August 14th. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, KeyCorp reiterated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company presently 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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