MSG Networks Inc (NYSE:MSGN) Shares Purchased by New York State Common Retirement Fund

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.

MSG Networks (NYSE:MSGN) last posted its earnings results on Thursday, May 2nd. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $192.03 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. MSG Networks’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that MSG Networks Inc will post 2.53 earnings per share for the current fiscal year.

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)

Institutional Ownership by Quarter for MSG Networks (NYSE:MSGN)

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