Markston International LLC boosted its stake in shares of MSG Networks Inc. (NYSE:MSGN) by 26.7% during the second quarter, Holdings Channel reports. The fund owned 206,987 shares of the company’s stock after buying an additional 43,600 shares during the period. Markston International LLC’s holdings in MSG Networks were worth $3,175,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in MSGN. Aperio Group LLC boosted its position in MSG Networks by 1,362.9% in the first quarter. Aperio Group LLC now owns 293,037 shares of the company’s stock valued at $5,067,000 after buying an additional 273,006 shares during the last quarter. Nisa Investment Advisors L.L.C. boosted its position in MSG Networks by 8.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,925 shares of the company’s stock valued at $258,000 after buying an additional 1,200 shares during the last quarter. Virginia Retirement System purchased a new position in MSG Networks during the first quarter valued at $1,043,000. Pacad Investment Ltd. purchased a new position in MSG Networks during the first quarter valued at $288,000. Finally, TIAA CREF Investment Management LLC boosted its position in MSG Networks by 69.1% in the first quarter. TIAA CREF Investment Management LLC now owns 426,958 shares of the company’s stock valued at $7,382,000 after buying an additional 174,475 shares during the last quarter. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MSG Networks Inc. (NYSE:MSGN) traded up 0.16% on Thursday, hitting $18.44. The stock had a trading volume of 416,952 shares. The firm’s 50-day moving average price is $17.67 and its 200 day moving average price is $16.89. MSG Networks Inc. has a 12 month low of $14.73 and a 12 month high of $21.72. The firm has a market cap of $1.38 billion, a P/E ratio of 186.26 and a beta of 0.85.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $160.50 million for the quarter, compared to analyst estimates of $159.84 million. MSG Networks had a net margin of 1.16% and a negative return on equity of 13.76%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts anticipate that MSG Networks Inc. will post $2.10 EPS for the current fiscal year.
MSGN has been the topic of several research analyst reports. Zacks Investment Research cut MSG Networks from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Jefferies Group decreased their target price on MSG Networks from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, July 11th. Loop Capital assumed coverage on MSG Networks in a report on Tuesday, August 9th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $19.00 target price on shares of MSG Networks in a report on Friday, August 19th. Finally, Albert Fried & Company raised MSG Networks from a “market perform” rating to an “overweight” rating and set a $28.00 target price on the stock in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.56.
In related news, insider Kathleen Margaret Dolan acquired 47,864 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were purchased at an average cost of $16.80 per share, with a total value of $804,115.20. Following the completion of the acquisition, the insider now directly owns 4,705 shares of the company’s stock, valued at $79,044. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 19.60% of the company’s stock.
About MSG Networks
MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports, entertainment and media business. The Company’s businesses include MSG Sports and MSG Entertainment. MSG Sports business includes sports business, which owns and operates the sports franchises, such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL).
Want to see what other hedge funds are holding MSGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSG Networks Inc. (NYSE:MSGN).
Receive News & Ratings for MSG Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.