Shares of MSG Networks, Inc. (NYSE:MSGN) have been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $24.40.
MSGN has been the topic of several research reports. ValuEngine cut MSG Networks from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised MSG Networks from a “sell” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, February 1st. Bank of America boosted their price objective on MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Morgan Stanley boosted their price objective on MSG Networks from $20.00 to $23.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. Finally, Guggenheim boosted their price objective on MSG Networks from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st.
Shares of MSGN stock traded up $0.02 during trading hours on Friday, hitting $22.92. The stock had a trading volume of 22,087 shares, compared to its average volume of 477,895. MSG Networks has a one year low of $16.15 and a one year high of $26.30. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of -1.62. The stock has a market capitalization of $1,705.18, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.76.
MSG Networks declared that its Board of Directors has initiated a stock buyback plan on Friday, December 8th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ariel Investments LLC boosted its holdings in shares of MSG Networks by 17.5% in the fourth quarter. Ariel Investments LLC now owns 8,981,457 shares of the company’s stock valued at $181,875,000 after purchasing an additional 1,339,171 shares during the period. BlackRock Inc. raised its stake in MSG Networks by 0.5% in the fourth quarter. BlackRock Inc. now owns 3,876,672 shares of the company’s stock worth $78,503,000 after buying an additional 19,208 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MSG Networks by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,107,529 shares of the company’s stock worth $44,680,000 after buying an additional 27,456 shares in the last quarter. London Co. of Virginia raised its stake in MSG Networks by 148.2% in the fourth quarter. London Co. of Virginia now owns 1,651,551 shares of the company’s stock worth $33,444,000 after buying an additional 986,234 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in MSG Networks by 51.0% in the third quarter. Neuberger Berman Group LLC now owns 1,536,767 shares of the company’s stock worth $32,579,000 after buying an additional 518,782 shares in the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.
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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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