Royce & Associates LP reduced its holdings in MSG Networks Inc (NYSE:MSGN) by 54.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,069 shares of the company’s stock after selling 1,280 shares during the quarter. Royce & Associates LP’s holdings in MSG Networks were worth $25,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of MSG Networks by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,317 shares of the company’s stock valued at $408,000 after acquiring an additional 674 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of MSG Networks by 4.3% during the fourth quarter. Cerity Partners LLC now owns 24,630 shares of the company’s stock valued at $580,000 after acquiring an additional 1,005 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in shares of MSG Networks during the fourth quarter valued at approximately $36,000. Loeb Partners Corp bought a new stake in shares of MSG Networks during the fourth quarter valued at approximately $47,000. Finally, First Trust Advisors LP increased its holdings in shares of MSG Networks by 4.3% during the third quarter. First Trust Advisors LP now owns 71,773 shares of the company’s stock valued at $1,852,000 after acquiring an additional 2,960 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, January 22nd. Guggenheim downgraded MSG Networks from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Finally, ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. MSG Networks presently has an average rating of “Hold” and an average target price of $25.00.
MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.05). MSG Networks had a negative return on equity of 28.99% and a net margin of 25.57%. The company had revenue of $192.90 million for the quarter, compared to the consensus estimate of $186.33 million. During the same quarter last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that MSG Networks Inc will post 2.51 EPS for the current fiscal year.
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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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