Public Employees Retirement System of Ohio Takes Position in MSG Networks Inc (MSGN)

Public Employees Retirement System of Ohio bought a new position in shares of MSG Networks Inc (NYSE:MSGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,660 shares of the company’s stock, valued at approximately $369,000.

A number of other large investors also recently made changes to their positions in MSGN. BlackRock Inc. grew its holdings in MSG Networks by 7.1% during the 4th quarter. BlackRock Inc. now owns 4,585,346 shares of the company’s stock worth $108,030,000 after acquiring an additional 302,612 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of MSG Networks by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,161,673 shares of the company’s stock valued at $50,929,000 after buying an additional 33,059 shares during the period. FMR LLC grew its stake in shares of MSG Networks by 399.9% in the 3rd quarter. FMR LLC now owns 1,750,025 shares of the company’s stock valued at $45,151,000 after buying an additional 1,399,964 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of MSG Networks by 2.2% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,480,956 shares of the company’s stock valued at $34,891,000 after buying an additional 32,000 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of MSG Networks by 23.1% in the 4th quarter. Acadian Asset Management LLC now owns 743,475 shares of the company’s stock valued at $17,518,000 after buying an additional 139,514 shares during the period. 88.10% of the stock is owned by institutional investors and hedge funds.

MSG Networks stock opened at $23.00 on Wednesday. MSG Networks Inc has a 52 week low of $17.95 and a 52 week high of $28.13. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.81 and a beta of 0.77.

MSG Networks (NYSE:MSGN) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $192.90 million during the quarter, compared to the consensus estimate of $186.33 million. MSG Networks had a negative return on equity of 28.99% and a net margin of 25.57%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts forecast that MSG Networks Inc will post 2.51 earnings per share for the current year.

A number of research firms have issued reports on MSGN. Zacks Investment Research upgraded MSG Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, January 22nd. Guggenheim downgraded MSG Networks from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. Finally, ValuEngine upgraded MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.75.

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About MSG Networks

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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