Brinker Capital Inc. Decreases Holdings in MSG Networks Inc (MSGN)

Brinker Capital Inc. reduced its stake in MSG Networks Inc (NYSE:MSGN) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,800 shares of the company’s stock after selling 4,423 shares during the period. Brinker Capital Inc. owned 0.05% of MSG Networks worth $877,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MSGN. Tower Research Capital LLC TRC boosted its position in shares of MSG Networks by 126.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,881 shares of the company’s stock worth $241,000 after buying an additional 6,645 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of MSG Networks during the fourth quarter worth approximately $306,000. AXA acquired a new position in shares of MSG Networks during the fourth quarter worth approximately $312,000. Ellington Management Group LLC boosted its position in shares of MSG Networks by 42.7% during the fourth quarter. Ellington Management Group LLC now owns 15,700 shares of the company’s stock worth $318,000 after buying an additional 4,700 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of MSG Networks during the fourth quarter worth approximately $338,000. Institutional investors own 81.96% of the company’s stock.

Several brokerages have recently issued reports on MSGN. Zacks Investment Research upgraded MSG Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. BTIG Research downgraded MSG Networks from a “buy” rating to a “neutral” rating in a research report on Monday, April 30th. Finally, ValuEngine downgraded MSG Networks from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. MSG Networks currently has an average rating of “Hold” and an average target price of $24.83.

Shares of NYSE:MSGN opened at $19.30 on Friday. MSG Networks Inc has a 12 month low of $16.15 and a 12 month high of $26.30. The company has a market cap of $1.47 billion, a P/E ratio of 8.69, a PEG ratio of 1.27 and a beta of 0.77. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of -1.64.

MSG Networks (NYSE:MSGN) last announced its earnings results on Thursday, May 3rd. The company reported $0.62 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. MSG Networks had a negative return on equity of 21.60% and a net margin of 41.18%. The firm had revenue of $186.60 million for the quarter, compared to analysts’ expectations of $187.92 million. During the same quarter in the previous year, the company earned $0.58 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. analysts anticipate that MSG Networks Inc will post 2.41 earnings per share for the current fiscal year.

About MSG Networks

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

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