MSG Networks Inc. (MSGN) Holdings Lifted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its holdings in shares of MSG Networks Inc. (NYSE:MSGN) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,057 shares of the company’s stock after acquiring an additional 2,307 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.41% of MSG Networks worth $5,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dubuque Bank & Trust Co. raised its stake in shares of MSG Networks by 8.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 8,373 shares of the company’s stock valued at $188,000 after purchasing an additional 679 shares during the period. James Investment Research Inc. raised its stake in shares of MSG Networks by 1.0% in the 2nd quarter. James Investment Research Inc. now owns 81,987 shares of the company’s stock valued at $1,840,000 after purchasing an additional 825 shares during the period. Legal & General Group Plc raised its stake in shares of MSG Networks by 17.6% in the 1st quarter. Legal & General Group Plc now owns 24,396 shares of the company’s stock valued at $570,000 after purchasing an additional 3,645 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of MSG Networks in the 1st quarter valued at about $120,000. Finally, Fairbanks Capital Management Inc. raised its stake in shares of MSG Networks by 32.6% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 24,883 shares of the company’s stock valued at $558,000 after purchasing an additional 6,124 shares during the period. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on MSGN shares. BidaskClub raised MSG Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. Loop Capital raised 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. Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price target on shares of MSG Networks in a research note on Monday, August 14th. Finally, FBN Securities raised MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.86.

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Shares of MSG Networks Inc. (NYSE MSGN) opened at 21.30 on Thursday. MSG Networks Inc. has a 1-year low of $18.20 and a 1-year high of $25.30. The firm has a market cap of $1.60 billion, a P/E ratio of 9.60 and a beta of 0.76. The firm has a 50 day moving average price of $21.02 and a 200 day moving average price of $22.08.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Wednesday, August 16th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. MSG Networks had a net margin of 24.78% and a negative return on equity of 16.56%. The business had revenue of $162.90 million for the quarter, compared to analysts’ expectations of $161.91 million. During the same quarter last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that MSG Networks Inc. will post $2.20 EPS for the current year.

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.

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

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