Freestone Capital Holdings LLC reduced its position in MSG Networks Inc (NYSE:MSGN) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 764,345 shares of the company’s stock after selling 31,474 shares during the quarter. MSG Networks comprises about 0.1% of Freestone Capital Holdings LLC’s investment portfolio, making the stock its 24th biggest position. Freestone Capital Holdings LLC owned 1.02% of MSG Networks worth $19,720,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MSGN. FMR LLC raised its position in MSG Networks by 399.9% in the third quarter. FMR LLC now owns 1,750,025 shares of the company’s stock valued at $45,151,000 after purchasing an additional 1,399,964 shares during the period. Citadel Advisors LLC raised its position in MSG Networks by 4,728.5% in the second quarter. Citadel Advisors LLC now owns 771,789 shares of the company’s stock valued at $18,484,000 after purchasing an additional 755,805 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in MSG Networks by 98.2% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,359,656 shares of the company’s stock valued at $32,564,000 after purchasing an additional 673,483 shares during the period. State of New Jersey Common Pension Fund D raised its position in MSG Networks by 164.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 687,000 shares of the company’s stock valued at $16,454,000 after purchasing an additional 427,000 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in MSG Networks in the second quarter valued at about $8,675,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.
MSGN has been the topic of several research reports. Zacks Investment Research lowered MSG Networks from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Imperial Capital initiated coverage on MSG Networks in a research report on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price objective on shares of MSG Networks in a research report on Friday, August 17th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.33.
MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Friday, November 2nd. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. MSG Networks had a negative return on equity of 27.90% and a net margin of 41.87%. The company had revenue of $164.46 million for the quarter, compared to analyst estimates of $162.59 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that MSG Networks Inc will post 2.57 EPS for the current fiscal year.
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.
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