New York State Common Retirement Fund boosted its stake in MSG Networks Inc (NYSE:MSGN) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 379,609 shares of the company’s stock after purchasing an additional 5,275 shares during the quarter. New York State Common Retirement Fund owned about 0.51% of MSG Networks worth $8,256,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC bought a new stake in shares of MSG Networks in the 1st quarter worth about $25,000. Athena Capital Advisors LLC bought a new stake in shares of MSG Networks in the 4th quarter worth about $36,000. Meeder Asset Management Inc. grew its holdings in MSG Networks by 103.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,125 shares of the company’s stock valued at $46,000 after purchasing an additional 1,078 shares during the last quarter. Loeb Partners Corp bought a new position in MSG Networks during the 4th quarter valued at about $47,000. Finally, Advisor Group Inc. grew its holdings in MSG Networks by 54.4% during the 4th quarter. Advisor Group Inc. now owns 9,667 shares of the company’s stock valued at $227,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
Shares of MSGN traded up $0.43 during mid-day trading on Friday, hitting $20.74. The company’s stock had a trading volume of 776,931 shares, compared to its average volume of 534,925. The company has a 50-day moving average price of $21.41. MSG Networks Inc has a 52-week low of $19.83 and a 52-week high of $28.13. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82.
MSGN has been the topic of several analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $23.00 price target on shares of MSG Networks in a report on Monday, May 6th. ValuEngine raised shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Zacks Investment Research cut shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley lowered their price objective on shares of MSG Networks from $22.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.60.
MSG Networks 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.
See Also: Leveraged Buyout (LBO)
Receive News & Ratings for MSG Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks and related companies with MarketBeat.com's FREE daily email newsletter.