Geode Capital Management LLC increased its stake in MSG Networks Inc (NYSE:MSGN) by 9.0% in the 4th quarter, HoldingsChannel reports. The fund owned 645,089 shares of the company’s stock after purchasing an additional 53,079 shares during the quarter. Geode Capital Management LLC’s holdings in MSG Networks were worth $15,198,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MSGN. Athena Capital Advisors LLC bought a new stake in shares of MSG Networks in the 4th quarter valued at $36,000. Loeb Partners Corp bought a new stake in shares of MSG Networks in the 4th quarter valued at $47,000. Advisor Group Inc. increased its stake in shares of MSG Networks by 54.4% in the 4th quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock valued at $227,000 after acquiring an additional 3,407 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of MSG Networks by 2,748.8% in the 4th quarter. Bessemer Group Inc. now owns 12,022 shares of the company’s stock valued at $283,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of MSG Networks in the 4th quarter valued at $286,000. Institutional investors own 87.47% of the company’s stock.
NYSE MSGN opened at $20.78 on Friday. MSG Networks Inc has a 12-month low of $20.07 and a 12-month high of $28.13. The firm has a market capitalization of $1.58 billion, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. The business had revenue of $195.10 million during the quarter, compared to the consensus estimate of $192.03 million. During the same quarter last year, the firm posted $0.62 EPS. MSG Networks’s revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that MSG Networks Inc will post 2.53 earnings per share for the current year.
Several analysts have recently weighed in on MSGN shares. ValuEngine lowered shares of MSG Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, March 15th. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, April 10th. Rosenblatt Securities reiterated a “neutral” rating and issued a $23.00 price objective on shares of MSG Networks in a research note on Monday, May 6th. Finally, Morgan Stanley lowered their price objective on shares of MSG Networks from $22.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. MSG Networks currently has an average rating of “Hold” and a consensus price target of $24.60.
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About MSG Networks
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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