Jefferies Group LLC Takes Position in MSG Networks Inc (MSGN)

Jefferies Group LLC purchased a new stake in shares of MSG Networks Inc (NYSE:MSGN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,417 shares of the company’s stock, valued at approximately $717,000.

Several other large investors also recently modified their holdings of the company. Ariel Investments LLC increased its holdings in MSG Networks by 17.5% in the 4th quarter. Ariel Investments LLC now owns 8,981,457 shares of the company’s stock worth $181,875,000 after buying an additional 1,339,171 shares in the last quarter. AXA bought a new stake in MSG Networks in the 4th quarter worth about $312,000. Alliancebernstein L.P. increased its holdings in MSG Networks by 112.2% in the 4th quarter. Alliancebernstein L.P. now owns 180,077 shares of the company’s stock worth $3,647,000 after buying an additional 95,210 shares in the last quarter. London Co. of Virginia increased its holdings in MSG Networks by 148.2% in the 4th quarter. London Co. of Virginia now owns 1,651,551 shares of the company’s stock worth $33,444,000 after buying an additional 986,234 shares in the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in MSG Networks in the 4th quarter worth about $306,000. Hedge funds and other institutional investors own 83.23% of the company’s stock.

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Several equities research analysts recently commented on MSGN shares. ValuEngine downgraded MSG Networks from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Bank of America lifted their price objective on MSG Networks from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Guggenheim lifted their price objective on MSG Networks from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley lifted their price objective on MSG Networks from $20.00 to $23.00 and gave the stock an “underweight” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.00.

Shares of MSG Networks Inc (NYSE MSGN) opened at $24.75 on Tuesday. The stock has a market capitalization of $1,885.86, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. MSG Networks Inc has a 52 week low of $16.15 and a 52 week high of $26.30. The company has a debt-to-equity ratio of -1.62, a quick ratio of 3.11 and a current ratio of 3.11.

MSG Networks (NYSE:MSGN) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.11. The business had revenue of $181.20 million during the quarter, compared to the consensus estimate of $179.73 million. MSG Networks had a negative return on equity of 19.52% and a net margin of 40.97%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. equities research analysts anticipate that MSG Networks Inc will post 3.8 earnings per share for the current year.

MSG Networks announced that its board has initiated a share buyback plan on Friday, December 8th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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

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