Rockefeller Capital Management L.P. lifted its stake in MSG Networks Inc (NYSE:MSGN) by 196.8% in the first quarter, HoldingsChannel reports. The firm owned 6,901 shares of the company’s stock after acquiring an additional 4,576 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in MSG Networks were worth $151,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC purchased a new position in MSG Networks in the first quarter worth about $25,000. Athena Capital Advisors LLC acquired a new position in shares of MSG Networks during the fourth quarter worth $36,000. Loeb Partners Corp acquired a new position in shares of MSG Networks during the fourth quarter worth $47,000. Meeder Asset Management Inc. increased its position in shares of MSG Networks by 103.0% during the first quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock worth $46,000 after purchasing an additional 1,078 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of MSG Networks during the first quarter valued at $160,000. 87.47% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE MSGN opened at $21.48 on Friday. MSG Networks Inc has a 12-month low of $20.07 and a 12-month high of $28.13. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.
MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $192.03 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that MSG Networks Inc will post 2.53 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $23.00 price target on shares of MSG Networks in a report on Monday, May 6th. Morgan Stanley cut their price objective on shares of MSG Networks from $22.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. Zacks Investment Research downgraded shares of MSG Networks from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. MSG Networks currently has an average rating of “Hold” and an average price target of $24.60.
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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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