Parkside Financial Bank & Trust Sells 3,228 Shares of MSG Networks Inc (NYSE:MSGN)

Parkside Financial Bank & Trust reduced its stake in MSG Networks Inc (NYSE:MSGN) by 61.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,059 shares of the company’s stock after selling 3,228 shares during the period. Parkside Financial Bank & Trust’s holdings in MSG Networks were worth $43,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in MSG Networks by 36.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 69,339 shares of the company’s stock valued at $1,438,000 after purchasing an additional 18,647 shares in the last quarter. Swiss National Bank increased its holdings in shares of MSG Networks by 2.2% during the second quarter. Swiss National Bank now owns 114,100 shares of the company’s stock worth $2,366,000 after buying an additional 2,500 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of MSG Networks by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 64,786 shares of the company’s stock worth $1,344,000 after buying an additional 1,455 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of MSG Networks by 0.4% during the second quarter. Systematic Financial Management LP now owns 1,214,030 shares of the company’s stock worth $25,179,000 after buying an additional 4,777 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. increased its holdings in shares of MSG Networks by 21.5% during the second quarter. Shine Investment Advisory Services Inc. now owns 3,354 shares of the company’s stock worth $70,000 after buying an additional 594 shares in the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Several brokerages have recently issued reports on MSGN. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Imperial Capital lowered their price target on shares of MSG Networks from $32.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. downgraded shares of MSG Networks from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $23.00 to $19.00 in a report on Friday, July 19th. Rosenblatt Securities set a $15.00 price target on shares of MSG Networks and gave the stock a “hold” rating in a report on Wednesday. Finally, Macquarie lowered their price target on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a report on Thursday. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. MSG Networks has an average rating of “Hold” and a consensus target price of $18.64.

Shares of NYSE:MSGN traded up $0.14 during trading on Friday, hitting $14.70. 8,718 shares of the company were exchanged, compared to its average volume of 528,172. The company has a market capitalization of $1.26 billion, a P/E ratio of 5.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.72. MSG Networks Inc has a 1-year low of $14.37 and a 1-year high of $28.13. The business’s 50 day moving average is $18.94 and its 200-day moving average is $21.43.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). The company had revenue of $168.36 million during the quarter, compared to analyst estimates of $170.87 million. MSG Networks had a net margin of 26.27% and a negative return on equity of 32.61%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, equities research analysts expect that MSG Networks Inc will post 2.52 EPS for the current 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.

Recommended Story: How does a security become overbought?

Want to see what other hedge funds are holding MSGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSG Networks Inc (NYSE:MSGN).

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.