GSA Capital Partners LLP purchased a new position in shares of MSG Networks Inc (NYSE:MSGN) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 16,022 shares of the company’s stock, valued at approximately $344,000.
Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in MSG Networks during the fourth quarter worth approximately $162,000. Bank of Montreal Can boosted its stake in MSG Networks by 23.2% in the third quarter. Bank of Montreal Can now owns 11,251 shares of the company’s stock worth $210,000 after buying an additional 2,115 shares during the last quarter. Fairbanks Capital Management Inc. purchased a new stake in MSG Networks during the third quarter worth approximately $215,000. Weiss Asset Management LP purchased a new stake in MSG Networks during the third quarter worth approximately $239,000. Finally, Bayesian Capital Management LP purchased a new stake in MSG Networks during the fourth quarter worth approximately $251,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.
MSG Networks Inc (NYSE:MSGN) opened at 22.50 on Monday. The company’s 50-day moving average is $22.27 and its 200-day moving average is $20.64. The company has a market cap of $1.69 billion, a P/E ratio of 9.61 and a beta of 0.78. MSG Networks Inc has a 12 month low of $14.73 and a 12 month high of $23.95.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. MSG Networks had a net margin of 26.43% and a negative return on equity of 15.59%. The company earned $175.60 million during the quarter, compared to analyst estimates of $176.35 million. During the same quarter last year, the business posted $0.45 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts expect that MSG Networks Inc will post $2.26 EPS for the current fiscal year.
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MSGN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, December 28th. Bank of America Corp initiated coverage on shares of MSG Networks in a report on Tuesday, January 31st. They set a “buy” rating and a $27.00 price target on the stock. Guggenheim upgraded shares of MSG Networks from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, December 9th. Albert Fried & Company reiterated a “buy” rating and set a $28.00 price target on shares of MSG Networks in a report on Sunday, December 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price target on shares of MSG Networks in a report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.34.
MSG Networks Company Profile
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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