MSG Networks Inc (NYSE:MSGN) CEO Andrea Greenberg Sells 51,667 Shares of Stock

MSG Networks Inc (NYSE:MSGN) CEO Andrea Greenberg sold 51,667 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.11, for a total value of $832,355.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NYSE MSGN opened at $15.58 on Friday. MSG Networks Inc has a fifty-two week low of $13.73 and a fifty-two week high of $24.84. The stock’s 50-day moving average is $16.23 and its two-hundred day moving average is $16.63. The firm has a market cap of $968.66 million, a P/E ratio of 6.36 and a beta of 0.75.

MSG Networks (NYSE:MSGN) last posted its earnings results on Tuesday, February 4th. The company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.06). MSG Networks had a net margin of 25.06% and a negative return on equity of 32.08%. The company had revenue of $187.73 million for the quarter, compared to the consensus estimate of $188.55 million. During the same quarter last year, the business earned $0.58 earnings per share. MSG Networks’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that MSG Networks Inc will post 2.68 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MSGN. First Trust Advisors LP boosted its position in shares of MSG Networks by 62.3% in the first quarter. First Trust Advisors LP now owns 121,424 shares of the company’s stock worth $2,641,000 after buying an additional 46,620 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of MSG Networks in the third quarter worth about $301,000. Brinker Capital Inc. boosted its position in shares of MSG Networks by 15.5% in the third quarter. Brinker Capital Inc. now owns 47,514 shares of the company’s stock worth $771,000 after buying an additional 6,371 shares during the period. Alberta Investment Management Corp boosted its position in shares of MSG Networks by 20.9% in the third quarter. Alberta Investment Management Corp now owns 1,978,406 shares of the company’s stock worth $32,090,000 after buying an additional 341,350 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of MSG Networks by 7.6% in the third quarter. Rhumbline Advisers now owns 101,797 shares of the company’s stock worth $1,651,000 after buying an additional 7,227 shares during the period. Institutional investors own 82.37% of the company’s stock.

MSGN has been the subject of several recent research reports. Guggenheim lowered MSG Networks from a “neutral” rating to a “sell” rating in a report on Wednesday, November 27th. Rosenblatt Securities reiterated a “hold” rating and set a $17.00 price objective on shares of MSG Networks in a report on Wednesday, February 5th. Zacks Investment Research upgraded MSG Networks from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, ValuEngine upgraded MSG Networks from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.06.

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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