American Century Companies Inc. Has $20.24 Million Stake in MSG Networks Inc. (MSGN)
American Century Companies Inc. decreased its holdings in shares of MSG Networks Inc. (NYSE:MSGN) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 954,907 shares of the company’s stock after selling 347,662 shares during the quarter. American Century Companies Inc. owned about 1.55% of MSG Networks worth $20,244,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of MSG Networks by 5.7% during the second quarter. Vanguard Group Inc. now owns 6,667,275 shares of the company’s stock worth $149,681,000 after purchasing an additional 360,354 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MSG Networks by 33,563.0% during the first quarter. BlackRock Inc. now owns 3,898,845 shares of the company’s stock worth $91,038,000 after purchasing an additional 3,887,263 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MSG Networks by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,080,073 shares of the company’s stock worth $46,698,000 after purchasing an additional 127,441 shares during the last quarter. State Street Corp boosted its holdings in shares of MSG Networks by 5.3% during the second quarter. State Street Corp now owns 1,304,687 shares of the company’s stock worth $29,290,000 after purchasing an additional 66,007 shares during the last quarter. Finally, CNH Partners LLC boosted its holdings in MSG Networks by 10.7% in the second quarter. CNH Partners LLC now owns 1,251,805 shares of the company’s stock valued at $28,103,000 after acquiring an additional 121,247 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.
MSG Networks Inc. (NYSE:MSGN) opened at $16.60 on Thursday. The company has a debt-to-equity ratio of -1.35, a current ratio of 2.75 and a quick ratio of 2.75. MSG Networks Inc. has a 52-week low of $16.15 and a 52-week high of $25.30. The company has a market capitalization of $1,237.60, a PE ratio of 7.44, a price-to-earnings-growth ratio of 8.53 and a beta of 0.74.
MSG Networks (NYSE:MSGN) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. MSG Networks had a negative return on equity of 17.40% and a net margin of 24.77%. The company had revenue of $157.46 million for the quarter, compared to analyst estimates of $157.21 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that MSG Networks Inc. will post 2.17 EPS for the current fiscal year.
A number of research analysts recently weighed in on MSGN shares. Loop Capital upgraded MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Monday, August 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 target price on shares of MSG Networks in a report on Monday, August 14th. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. ValuEngine cut MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, KeyCorp reiterated a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.86.
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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