Principal Financial Group Inc. purchased a new stake in MSG Networks Inc (NYSE:MSGN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,631 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds also recently modified their holdings of MSGN. Atlantic Trust Group LLC bought a new stake in shares of MSG Networks in the first quarter valued at approximately $136,000. Sentinel Trust Co. LBA bought a new stake in shares of MSG Networks in the first quarter valued at approximately $203,000. Xact Kapitalforvaltning AB bought a new stake in shares of MSG Networks in the first quarter valued at approximately $234,000. Quadrature Capital Ltd bought a new stake in shares of MSG Networks in the first quarter valued at approximately $241,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of MSG Networks by 36.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 21,700 shares of the company’s stock valued at $490,000 after buying an additional 5,800 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Several equities research analysts recently issued reports on MSGN shares. ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 19th. Morgan Stanley cut their price target on MSG Networks from $23.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, June 1st. Zacks Investment Research upgraded MSG Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Imperial Capital started coverage on MSG Networks in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $29.00 price target for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price target on shares of MSG Networks in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.43.

Shares of MSGN opened at $25.05 on Wednesday. MSG Networks Inc has a one year low of $16.15 and a one year high of $26.30. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of -1.70, a current ratio of 3.04 and a quick ratio of 3.04.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings data on Wednesday, August 15th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. MSG Networks had a net margin of 41.46% and a negative return on equity of 24.41%. The business had revenue of $171.40 million during the quarter, compared to the consensus estimate of $166.01 million. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. sell-side analysts anticipate that MSG Networks Inc will post 2.58 earnings per share for the current fiscal year.

MSG Networks Profile

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.

See Also: Dividend

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

Receive News & Ratings for MSG Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSG Networks and related companies with MarketBeat.com's FREE daily email newsletter.