GSA Capital Partners LLP Has $2.19 Million Position in MSG Networks Inc (MSGN)

GSA Capital Partners LLP boosted its stake in shares of MSG Networks Inc (NYSE:MSGN) by 26.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 84,680 shares of the company’s stock after purchasing an additional 17,880 shares during the period. GSA Capital Partners LLP’s holdings in MSG Networks were worth $2,185,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bowling Portfolio Management LLC bought a new stake in shares of MSG Networks in the 2nd quarter worth $2,135,000. Gabelli Funds LLC increased its holdings in shares of MSG Networks by 0.6% in the 2nd quarter. Gabelli Funds LLC now owns 1,411,600 shares of the company’s stock worth $33,808,000 after purchasing an additional 9,000 shares in the last quarter. First Quadrant L P CA increased its holdings in shares of MSG Networks by 559.5% in the 3rd quarter. First Quadrant L P CA now owns 17,148 shares of the company’s stock worth $442,000 after purchasing an additional 14,548 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MSG Networks by 30.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 620,621 shares of the company’s stock worth $14,864,000 after purchasing an additional 144,017 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of MSG Networks by 4.0% in the 2nd quarter. BlackRock Inc. now owns 4,007,343 shares of the company’s stock worth $95,977,000 after purchasing an additional 155,426 shares in the last quarter. 87.11% of the stock is owned by institutional investors.

A number of analysts have commented on the company. Zacks Investment Research lowered MSG Networks from a “buy” rating to a “sell” rating in a report on Wednesday, October 24th. Imperial Capital raised their price target on MSG Networks to $32.00 and gave the stock an “outperform” rating in a research note on Friday, October 19th. They noted that the move was a valuation call. Finally, Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of MSG Networks in a research note on Friday, August 17th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.33.

MSGN stock opened at $26.78 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 7.03, a PEG ratio of 1.16 and a beta of 0.71. MSG Networks Inc has a 1 year low of $17.45 and a 1 year high of $28.13.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Friday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.62. The firm had revenue of $164.46 million for the quarter, compared to the consensus estimate of $162.59 million. MSG Networks had a negative return on equity of 27.90% and a net margin of 41.87%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. As a group, research analysts predict that MSG Networks Inc will post 2.57 earnings per share for the current year.

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About MSG Networks

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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