Camarda Financial Advisors LLC Sells 6,640 Shares of MSG Networks Inc (MSGN)
Camarda Financial Advisors LLC cut its position in MSG Networks Inc (NYSE:MSGN) by 9.1% during the 4th quarter, Holdings Channel reports. The firm owned 66,712 shares of the company’s stock after selling 6,640 shares during the quarter. MSG Networks makes up about 1.6% of Camarda Financial Advisors LLC’s investment portfolio, making the stock its 19th largest position. Camarda Financial Advisors LLC’s holdings in MSG Networks were worth $1,351,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. UBS Asset Management Americas Inc. lifted its position in MSG Networks by 38.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,649 shares of the company’s stock valued at $755,000 after purchasing an additional 9,375 shares during the last quarter. Chicago Equity Partners LLC lifted its position in MSG Networks by 54.7% in the 3rd quarter. Chicago Equity Partners LLC now owns 119,575 shares of the company’s stock valued at $2,535,000 after purchasing an additional 42,275 shares during the last quarter. FMR LLC lifted its position in MSG Networks by 30.6% in the 2nd quarter. FMR LLC now owns 429,600 shares of the company’s stock valued at $9,645,000 after purchasing an additional 100,600 shares during the last quarter. APG Asset Management N.V. bought a new stake in MSG Networks in the 3rd quarter valued at about $3,585,000. Finally, Quantbot Technologies LP lifted its position in MSG Networks by 76.6% in the 3rd quarter. Quantbot Technologies LP now owns 22,905 shares of the company’s stock valued at $485,000 after purchasing an additional 9,934 shares during the last quarter. Hedge funds and other institutional investors own 80.47% of the company’s stock.
Shares of MSG Networks Inc (NYSE MSGN) opened at $23.25 on Monday. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of -1.62. MSG Networks Inc has a fifty-two week low of $16.15 and a fifty-two week high of $26.30. The company has a market cap of $1,749.19, a P/E ratio of 6.30, a P/E/G ratio of 0.95 and a beta of 0.77.
MSG Networks announced that its board has approved a share repurchase program on Friday, December 8th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have commented on MSGN shares. Morgan Stanley downgraded shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research report on Tuesday, October 31st. ValuEngine downgraded shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Jefferies Group dropped their price target on shares of MSG Networks from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Finally, Zacks Investment Research downgraded shares of MSG Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. MSG Networks has an average rating of “Buy” and an average price target of $25.00.
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MSG Networks Company 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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