James Investment Research Inc. boosted its stake in MSG Networks Inc. (NYSE:MSGN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,987 shares of the company’s stock after buying an additional 825 shares during the period. James Investment Research Inc. owned about 0.13% of MSG Networks worth $1,840,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of MSG Networks during the first quarter worth $4,101,000. Russell Investments Group Ltd. boosted its stake in shares of MSG Networks by 827.6% in the first quarter. Russell Investments Group Ltd. now owns 70,527 shares of the company’s stock worth $1,646,000 after buying an additional 62,924 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in shares of MSG Networks during the first quarter worth $180,000. Independent Portfolio Consultants Inc. acquired a new stake in shares of MSG Networks during the first quarter worth $704,000. Finally, Acadian Asset Management LLC raised its position in shares of MSG Networks by 167,063.3% in the first quarter. Acadian Asset Management LLC now owns 277,491 shares of the company’s stock worth $6,479,000 after buying an additional 277,325 shares in the last quarter. 78.26% of the stock is owned by institutional investors.
MSG Networks Inc. (MSGN) traded up 0.73% during midday trading on Friday, reaching $20.70. 416,625 shares of the company’s stock were exchanged. MSG Networks Inc. has a 1-year low of $15.82 and a 1-year high of $25.30. The firm’s 50-day moving average is $21.86 and its 200 day moving average is $22.48. The stock has a market cap of $1.55 billion, a P/E ratio of 8.88 and a beta of 0.78.
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MSGN has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. BidaskClub upgraded shares of MSG Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. ValuEngine cut shares of MSG Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC upped their target price on shares of MSG Networks from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Finally, Morgan Stanley upped their target price on shares of MSG Networks from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.33.
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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