APG Asset Management N.V. Buys Shares of 169,100 MSG Networks Inc. (MSGN)
APG Asset Management N.V. bought a new position in MSG Networks Inc. (NYSE:MSGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 169,100 shares of the company’s stock, valued at approximately $3,585,000. APG Asset Management N.V. owned approximately 0.23% of MSG Networks at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in MSGN. BlackRock Inc. boosted its holdings in shares of MSG Networks by 33,563.0% in the 1st quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock worth $91,038,000 after acquiring an additional 3,887,263 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in MSG Networks by 2,476.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,017,985 shares of the company’s stock worth $22,854,000 after buying an additional 978,470 shares in the last quarter. Vanguard Group Inc. lifted its holdings in MSG Networks by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock worth $149,681,000 after buying an additional 360,354 shares in the last quarter. American Century Companies Inc. lifted its holdings in MSG Networks by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock worth $29,243,000 after buying an additional 358,009 shares in the last quarter. Finally, FMR LLC acquired a new position in MSG Networks during the 1st quarter worth $7,682,000. 77.33% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on MSGN. Jefferies Group LLC reduced their price objective on MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Friday. Morgan Stanley cut shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research report on Tuesday, October 31st. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Finally, Loop Capital upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $23.86.
Shares of MSG Networks Inc. (NYSE MSGN) opened at $17.15 on Tuesday. The stock has a market cap of $1,280.20, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 1.87 and a beta of 0.74. The company has a debt-to-equity ratio of -1.35, a quick ratio of 2.75 and a current ratio of 2.75.
MSG Networks (NYSE:MSGN) last issued its earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The company had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. During the same quarter in the previous year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts expect that MSG Networks Inc. will post 2.18 earnings per share for the current year.
MSG Networks Profile
MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The Company owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. Its networks are distributed throughout its territory, which includes all of New York State and significant portions of New Jersey and Connecticut, as well as parts of Pennsylvania.
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