Systematic Financial Management LP Invests $2.60 Million in MSG Networks Inc. (MSGN) Stock
Systematic Financial Management LP bought a new stake in MSG Networks Inc. (NYSE:MSGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 122,700 shares of the company’s stock, valued at approximately $2,601,000. Systematic Financial Management LP owned approximately 0.16% of MSG Networks as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of MSG Networks by 5.7% during the 2nd 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 period. BlackRock Inc. grew its holdings in shares of MSG Networks by 33,563.0% during the 1st 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 period. Dimensional Fund Advisors LP grew its holdings in shares of MSG Networks by 6.5% during the 2nd 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 period. State Street Corp grew its holdings in shares of MSG Networks by 5.3% during the 2nd 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 period. Finally, American Century Companies Inc. grew its holdings in shares of MSG Networks by 37.9% during the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock worth $29,243,000 after purchasing an additional 358,009 shares during the period. Institutional investors own 77.50% of the company’s stock.
A number of equities analysts have recently weighed in on MSGN shares. ValuEngine cut MSG Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Loop Capital upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, October 11th. Jefferies Group LLC lowered their price target on MSG Networks from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Finally, FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.86.
MSG Networks (NYSE:MSGN) last announced its earnings results on Thursday, November 2nd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $157.21 million. During the same period last year, the business posted $0.54 EPS. MSG Networks’s revenue for the quarter was up 2.5% on a year-over-year basis. equities analysts forecast that MSG Networks Inc. will post 2.17 EPS for the current fiscal year.
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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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