Vanguard Group Inc lowered its position in MSG Networks Inc (NYSE:MSGN) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,116,804 shares of the company’s stock after selling 119,356 shares during the quarter. Vanguard Group Inc owned about 8.20% of MSG Networks worth $157,813,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake 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 acquiring an additional 1,399,964 shares during the last quarter. Channing Capital Management LLC increased its stake in MSG Networks by 68.5% in the third quarter. Channing Capital Management LLC now owns 2,216,838 shares of the company’s stock valued at $57,194,000 after acquiring an additional 901,094 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake 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 acquiring an additional 673,483 shares during the last quarter. Point72 Asset Management L.P. bought a new position in MSG Networks in the second quarter valued at $8,675,000. Finally, Morgan Stanley increased its stake in MSG Networks by 227.9% in the third quarter. Morgan Stanley now owns 515,259 shares of the company’s stock valued at $13,294,000 after acquiring an additional 358,123 shares during the last quarter. 85.08% of the stock is currently owned by hedge funds and other institutional investors.
NYSE MSGN opened at $25.49 on Friday. MSG Networks Inc has a 12-month low of $17.95 and a 12-month high of $28.13. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85.
Several analysts have issued reports on the stock. Imperial Capital upped their price target on shares of MSG Networks to $32.00 and gave the company an “outperform” rating in a research report on Friday, October 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, October 17th. Guggenheim lowered shares of MSG Networks from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. MSG Networks currently has a consensus rating of “Hold” and a consensus price target of $27.33.
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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