Point72 Asset Management L.P. bought a new stake in shares of MSG Networks Inc (NYSE:MSGN) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 362,223 shares of the company’s stock, valued at approximately $8,675,000.

A number of other institutional investors have also recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new stake in shares of MSG Networks during the 1st quarter worth about $120,000. Atlantic Trust Group LLC bought a new stake in shares of MSG Networks during the 1st quarter worth about $136,000. Sentinel Trust Co. LBA bought a new stake in shares of MSG Networks during the 1st quarter worth about $203,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of MSG Networks during the 2nd quarter worth about $216,000. Finally, Hartford Investment Management Co. bought a new stake in shares of MSG Networks during the 2nd quarter worth about $228,000. 84.28% of the stock is owned by hedge funds and other institutional investors.

NYSE MSGN opened at $24.35 on Friday. The company has a debt-to-equity ratio of -1.70, a quick ratio of 3.04 and a current ratio of 3.04. MSG Networks Inc has a 12 month low of $16.15 and a 12 month high of $26.30. The company has a market capitalization of $1.87 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.17 and a beta of 0.77.

MSG Networks (NYSE:MSGN) last released its earnings results on Wednesday, August 15th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. MSG Networks had a net margin of 41.46% and a negative return on equity of 24.41%. The business had revenue of $171.40 million for the quarter, compared to the consensus estimate of $166.01 million. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. research analysts expect that MSG Networks Inc will post 2.58 EPS for the current fiscal year.

A number of analysts have commented on the stock. ValuEngine upgraded shares of MSG Networks from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, July 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of MSG Networks in a report on Friday, August 17th. Imperial Capital started coverage on shares of MSG Networks in a report on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of MSG Networks from $23.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.43.

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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Institutional Ownership by Quarter for MSG Networks (NYSE:MSGN)

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