Axa Takes Position in MSG Networks Inc (MSGN)

Axa acquired a new stake in MSG Networks Inc (NYSE:MSGN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 15,400 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors also recently added to or reduced their stakes in MSGN. Tower Research Capital LLC TRC lifted its position in shares of MSG Networks by 126.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,881 shares of the company’s stock worth $241,000 after purchasing an additional 6,645 shares during the period. Magnetar Financial LLC purchased a new stake in shares of MSG Networks in the 3rd quarter worth approximately $300,000. First Republic Investment Management Inc. purchased a new stake in shares of MSG Networks in the 4th quarter worth approximately $306,000. Catalyst Capital Advisors LLC purchased a new stake in shares of MSG Networks in the 4th quarter worth approximately $338,000. Finally, SG Americas Securities LLC purchased a new stake in shares of MSG Networks in the 3rd quarter worth approximately $356,000. 83.23% of the stock is owned by institutional investors.

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Shares of MSG Networks Inc (NYSE:MSGN) opened at $22.65 on Monday. MSG Networks Inc has a 52-week low of $16.15 and a 52-week high of $26.30. The company has a debt-to-equity ratio of -1.62, a quick ratio of 3.11 and a current ratio of 3.11. The company has a market cap of $1,705.18, a P/E ratio of 6.14, a P/E/G ratio of 0.93 and a beta of 0.72.

MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, February 1st. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.11. MSG Networks had a net margin of 40.97% and a negative return on equity of 19.52%. The company had revenue of $181.20 million during the quarter, compared to analysts’ expectations of $179.73 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. MSG Networks’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities analysts forecast that MSG Networks Inc will post 3.8 EPS for the current fiscal year.

MSG Networks announced that its board has approved a share buyback plan on Friday, December 8th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Several brokerages have recently weighed in on MSGN. ValuEngine cut shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Guggenheim upped their price target on shares of MSG Networks from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley upped their price target on shares of MSG Networks from $20.00 to $23.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of MSG Networks from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, February 1st. Finally, Bank of America upped their price target on shares of MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. MSG Networks has an average rating of “Buy” and an average target price of $25.00.

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

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