Alberta Investment Management Corp raised its holdings in MSG Networks Inc (NYSE:MSGN) by 10.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,637,056 shares of the company’s stock after acquiring an additional 156,100 shares during the quarter. Alberta Investment Management Corp owned 2.19% of MSG Networks worth $33,953,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MSGN. Man Group plc raised its holdings in MSG Networks by 27.1% during the 2nd quarter. Man Group plc now owns 531,729 shares of the company’s stock worth $11,028,000 after buying an additional 113,498 shares during the period. Zebra Capital Management LLC increased its holdings in shares of MSG Networks by 20.3% in the 2nd quarter. Zebra Capital Management LLC now owns 66,993 shares of the company’s stock valued at $1,389,000 after purchasing an additional 11,283 shares during the period. Marshall Wace North America L.P. increased its holdings in shares of MSG Networks by 2,066.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 17,333 shares of the company’s stock valued at $360,000 after purchasing an additional 16,533 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of MSG Networks in the 2nd quarter valued at about $542,000. Finally, Algert Global LLC increased its holdings in shares of MSG Networks by 57.0% in the 2nd quarter. Algert Global LLC now owns 55,557 shares of the company’s stock valued at $1,152,000 after purchasing an additional 20,173 shares during the period. 85.83% of the stock is owned by institutional investors.
Shares of NYSE MSGN traded up $0.38 during trading hours on Friday, reaching $15.89. The stock had a trading volume of 1,578,363 shares, compared to its average volume of 2,100,204. The business’s fifty day moving average is $16.19 and its two-hundred day moving average is $19.76. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 6.46 and a beta of 0.71. MSG Networks Inc has a twelve month low of $13.73 and a twelve month high of $28.13.
MSG Networks (NYSE:MSGN) last issued its earnings results on Wednesday, August 21st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The firm had revenue of $168.36 million during the quarter, compared to analyst estimates of $170.87 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts predict that MSG Networks Inc will post 2.52 earnings per share for the current year.
A number of research firms recently commented on MSGN. JPMorgan Chase & Co. downgraded MSG Networks from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $23.00 to $19.00 in a report on Friday, July 19th. Guggenheim dropped their price objective on MSG Networks from $24.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley dropped their price objective on MSG Networks from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, August 22nd. ValuEngine raised MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI cut MSG Networks from an “in-line” rating to an “underperform” rating in a research report on Wednesday, August 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.44.
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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