Nissay Asset Management Corp Japan ADV Acquires 7,785 Shares of MSG Networks Inc (MSGN)

Nissay Asset Management Corp Japan ADV increased its holdings in shares of MSG Networks Inc (NYSE:MSGN) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,909 shares of the company’s stock after purchasing an additional 7,785 shares during the period. Nissay Asset Management Corp Japan ADV owned 0.11% of MSG Networks worth $1,953,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of MSG Networks in the 3rd quarter worth $208,000. Meeder Asset Management Inc. lifted its stake in shares of MSG Networks by 446.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,952 shares of the company’s stock worth $231,000 after acquiring an additional 7,314 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MSG Networks in the 3rd quarter worth $237,000. Verition Fund Management LLC acquired a new stake in shares of MSG Networks in the 3rd quarter worth $262,000. Finally, Brown Advisory Inc. lifted its stake in shares of MSG Networks by 35.2% in the 3rd quarter. Brown Advisory Inc. now owns 14,007 shares of the company’s stock worth $361,000 after acquiring an additional 3,649 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

NYSE:MSGN opened at $23.70 on Friday. MSG Networks Inc has a twelve month low of $17.95 and a twelve month high of $28.13. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.74.

MSG Networks (NYSE:MSGN) last posted its earnings results on Tuesday, February 5th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.05). MSG Networks had a net margin of 25.57% and a negative return on equity of 28.99%. The business had revenue of $192.90 million for the quarter, compared to analysts’ expectations of $186.33 million. During the same quarter last year, the business posted $0.65 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that MSG Networks Inc will post 2.51 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on MSGN shares. Guggenheim downgraded shares of MSG Networks from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. ValuEngine downgraded shares of MSG Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded shares of MSG Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.00.

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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.

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

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