Millennium Management LLC reduced its stake in MSG Networks Inc (NYSE:MSGN) by 65.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,718 shares of the company’s stock after selling 252,624 shares during the period. Millennium Management LLC owned approximately 0.18% of MSG Networks worth $3,127,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MSGN. FMR LLC increased its holdings in MSG Networks by 399.9% in the 3rd quarter. FMR LLC now owns 1,750,025 shares of the company’s stock valued at $45,151,000 after acquiring an additional 1,399,964 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in MSG Networks in the 4th quarter valued at $11,082,000. Morgan Stanley increased its holdings in MSG Networks by 227.9% in the 3rd quarter. Morgan Stanley now owns 515,259 shares of the company’s stock valued at $13,294,000 after acquiring an additional 358,123 shares during the last quarter. Renaissance Technologies LLC increased its holdings in MSG Networks by 210.2% in the 3rd quarter. Renaissance Technologies LLC now owns 502,700 shares of the company’s stock valued at $12,970,000 after acquiring an additional 340,663 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in MSG Networks by 7.1% in the 4th quarter. BlackRock Inc. now owns 4,585,346 shares of the company’s stock valued at $108,030,000 after acquiring an additional 302,612 shares during the last quarter. Institutional investors own 88.10% of the company’s stock.
MSG Networks stock opened at $23.16 on Friday. MSG Networks Inc has a twelve month low of $17.95 and a twelve month high of $28.13. The stock has a market capitalization of $1.73 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77.
MSG Networks (NYSE:MSGN) last posted its earnings results on Tuesday, February 5th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). MSG Networks had a negative return on equity of 28.99% and a net margin of 25.57%. The business had revenue of $192.90 million during the quarter, compared to the consensus estimate of $186.33 million. During the same quarter last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that MSG Networks Inc will post 2.51 earnings per share for the current year.
A number of analysts have recently weighed in on MSGN shares. ValuEngine downgraded shares of MSG Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 30th. Guggenheim downgraded shares of MSG Networks from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Finally, Zacks Investment Research downgraded shares of MSG Networks from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.75.
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MSG Networks Company Profile
MSG Networks Inc engages in the sports production, and content development and distribution businesses in the United States. The company owns and operates MSG Network and MSG+, which are regional sports and entertainment networks. It also operates MSG GO that provides live streaming and video on demand, as well as a Website and social media platforms for its brands.
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