Zacks Investment Research upgraded shares of MSG Networks (NYSE:MSGN) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. The firm currently has $25.00 price objective on the stock.

According to Zacks, “MSG Networks Inc. is engaged in production and content development which comprised of sports and entertainment networks, MSG Network and MSG+ as well as MSGNetworks.com and MSG GO. MSG Networks Inc., formerly known as Madison Square Garden Company, is based in New York. “

A number of other equities research analysts also recently commented on MSGN. ValuEngine downgraded MSG Networks from a sell rating to a strong sell rating in a report on Friday, March 15th. Guggenheim downgraded MSG Networks from a buy rating to a neutral rating in a report on Monday, January 7th. Two investment 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 an average price target of $24.75.

NYSE MSGN traded down $0.09 on Wednesday, reaching $23.07. The company had a trading volume of 247 shares, compared to its average volume of 453,359. The company has a market capitalization of $1.70 billion, a PE ratio of 6.07, a P/E/G ratio of 0.79 and a beta of 0.77. MSG Networks has a 52 week low of $17.95 and a 52 week high of $28.13.

MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Tuesday, February 5th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $192.90 million during the quarter, compared to the consensus estimate of $186.33 million. MSG Networks had a net margin of 25.57% and a negative return on equity of 28.99%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. On average, equities research analysts predict that MSG Networks will post 2.51 EPS for the current year.

A number of large investors have recently bought and sold shares of MSGN. FMR LLC boosted its position in shares of MSG Networks by 130.5% during the fourth quarter. FMR LLC now owns 4,034,258 shares of the company’s stock worth $95,046,000 after buying an additional 2,284,233 shares during the period. Norges Bank bought a new stake in MSG Networks during the fourth quarter worth about $23,737,000. Oak Ridge Investments LLC bought a new stake in MSG Networks during the fourth quarter worth about $11,082,000. Morgan Stanley raised its holdings in MSG Networks by 227.9% during the third quarter. Morgan Stanley now owns 515,259 shares of the company’s stock worth $13,294,000 after acquiring an additional 358,123 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in MSG Networks by 210.2% during the third quarter. Renaissance Technologies LLC now owns 502,700 shares of the company’s stock worth $12,970,000 after acquiring an additional 340,663 shares in the last quarter. 88.10% of the stock is owned by hedge funds and other institutional investors.

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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