Nordea Investment Management AB Acquires 16,371 Shares of MSG Networks Inc (MSGN)
Nordea Investment Management AB lifted its holdings in shares of MSG Networks Inc (NYSE:MSGN) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,872 shares of the company’s stock after buying an additional 16,371 shares during the period. Nordea Investment Management AB owned approximately 0.13% of MSG Networks worth $2,138,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Rockefeller Financial Services Inc. raised its holdings in MSG Networks by 200.0% during the third quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock worth $148,000 after purchasing an additional 4,650 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in MSG Networks in the second quarter valued at about $161,000. Victory Capital Management Inc. increased its holdings in MSG Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock valued at $165,000 after buying an additional 1,097 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in MSG Networks by 177.6% in the second quarter. BNP Paribas Arbitrage SA now owns 8,347 shares of the company’s stock valued at $187,000 after buying an additional 5,340 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in MSG Networks in the second quarter valued at about $213,000. Institutional investors and hedge funds own 81.76% of the company’s stock.
Shares of MSG Networks Inc (MSGN) traded down $0.35 on Thursday, hitting $18.95. 774,900 shares of the stock were exchanged, compared to its average volume of 563,797. The company has a debt-to-equity ratio of -1.35, a quick ratio of 2.75 and a current ratio of 2.75. MSG Networks Inc has a fifty-two week low of $16.15 and a fifty-two week high of $25.30. The stock has a market cap of $1,452.02, a PE ratio of 8.73, a price-to-earnings-growth ratio of 9.95 and a beta of 0.75.
MSG Networks (NYSE:MSGN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The business had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. During the same period last year, the company posted $0.54 EPS. The company’s revenue was up 2.5% on a year-over-year basis. equities analysts expect that MSG Networks Inc will post 2.18 earnings per share for the current year.
A number of brokerages have issued reports on MSGN. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of MSG Networks in a report on Tuesday, October 17th. Jefferies Group reaffirmed a “hold” rating and issued a $22.00 target price on shares of MSG Networks in a report on Thursday, September 21st. Morgan Stanley cut shares of MSG Networks from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a report on Tuesday, October 31st. Finally, FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. MSG Networks has an average rating of “Hold” and an average target price of $23.17.
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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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