SG Americas Securities LLC purchased a new position in MSG Networks Inc (NYSE:MSGN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,814 shares of the company’s stock, valued at approximately $356,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockefeller Financial Services Inc. boosted its position in shares of MSG Networks by 200.0% in the third quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock worth $148,000 after purchasing an additional 4,650 shares during the period. Americafirst Capital Management LLC bought a new position in shares of MSG Networks in the second quarter worth approximately $161,000. Victory Capital Management Inc. boosted its position in shares of MSG Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock worth $165,000 after purchasing an additional 1,097 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of MSG Networks by 177.6% in the second quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock worth $187,000 after purchasing an additional 5,340 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of MSG Networks in the second quarter worth approximately $284,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

MSG Networks Inc (NYSE:MSGN) opened at $19.80 on Friday. 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 Inc has a 12-month low of $16.15 and a 12-month high of $25.30. The firm has a market cap of $1,485.87, a price-to-earnings ratio of 8.94, a P/E/G ratio of 201.32 and a beta of 0.75.

MSG Networks (NYSE:MSGN) last issued its earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $157.46 million during the quarter, compared to analyst estimates of $157.21 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. MSG Networks’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts expect that MSG Networks Inc will post 2.18 EPS for the current year.

MSG Networks declared that its Board of Directors has authorized a share buyback program on Friday, December 8th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

A number of equities analysts have weighed in on the stock. Morgan Stanley lowered shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 price target for the company. in a research report on Tuesday, October 31st. Jefferies Group dropped their price target on shares of MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of MSG Networks in a research report on Tuesday, October 17th. Loop Capital upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, October 11th. Finally, ValuEngine lowered shares of MSG Networks from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.20.

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About MSG Networks

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

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