Thompson Siegel & Walmsley LLC Acquires 81,650 Shares of MSG Networks Inc. (MSGN)
Thompson Siegel & Walmsley LLC boosted its holdings in shares of MSG Networks Inc. (NYSE:MSGN) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 943,352 shares of the company’s stock after buying an additional 81,650 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 1.26% of MSG Networks worth $19,999,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MSGN. UBS Asset Management Americas Inc. boosted its position in shares of MSG Networks by 38.6% in the second quarter. UBS Asset Management Americas Inc. now owns 33,649 shares of the company’s stock worth $755,000 after purchasing an additional 9,375 shares during the period. FMR LLC boosted its position in shares of MSG Networks by 30.6% during the second quarter. FMR LLC now owns 429,600 shares of the company’s stock worth $9,645,000 after acquiring an additional 100,600 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of MSG Networks by 153.4% during the second quarter. Principal Financial Group Inc. now owns 37,767 shares of the company’s stock worth $848,000 after acquiring an additional 22,863 shares during the last quarter. American Century Companies Inc. boosted its position in shares of MSG Networks by 37.9% during the second quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock worth $29,243,000 after acquiring an additional 358,009 shares during the last quarter. Finally, AlphaOne Investment Services LLC boosted its position in shares of MSG Networks by 79.9% during the second quarter. AlphaOne Investment Services LLC now owns 100,200 shares of the company’s stock worth $2,249,000 after acquiring an additional 44,500 shares during the last quarter. Institutional investors own 77.50% of the company’s stock.
Shares of MSG Networks Inc. (MSGN) traded up $0.20 on Wednesday, hitting $17.45. 506,600 shares of the stock traded hands, compared to its average volume of 555,946. MSG Networks Inc. has a 1-year low of $16.15 and a 1-year high of $25.30. The stock has a market capitalization of $1,297.79, a P/E ratio of 7.81, a P/E/G ratio of 8.94 and a beta of 0.74. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35.
MSG Networks (NYSE:MSGN) last announced its earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $157.46 million for the quarter, compared to the consensus estimate of $157.21 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts forecast that MSG Networks Inc. will post 2.17 EPS for the current year.
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MSGN has been the subject of a number of research reports. Morgan Stanley lowered 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. Loop Capital raised shares of MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Monday, August 7th. FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Jefferies Group LLC decreased 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 note on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. MSG Networks currently has an average rating of “Hold” and an average target price of $23.86.
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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