Bank of Montreal Can Has $1.57 Million Holdings in MSG Networks Inc (MSGN)

Bank of Montreal Can raised its stake in MSG Networks Inc (NYSE:MSGN) by 6,872.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,447 shares of the company’s stock after acquiring an additional 65,494 shares during the period. Bank of Montreal Can owned about 0.09% of MSG Networks worth $1,566,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of MSG Networks by 6.9% during the third quarter. BlackRock Inc. now owns 4,282,734 shares of the company’s stock worth $110,493,000 after purchasing an additional 275,391 shares during the last quarter. Channing Capital Management LLC grew its holdings in shares of MSG Networks by 68.5% during the third quarter. Channing Capital Management LLC now owns 2,216,838 shares of the company’s stock worth $57,194,000 after purchasing an additional 901,094 shares during the last quarter. FMR LLC grew its holdings in shares of MSG Networks by 399.9% during the third quarter. FMR LLC now owns 1,750,025 shares of the company’s stock worth $45,151,000 after purchasing an additional 1,399,964 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of MSG Networks by 6.6% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,448,956 shares of the company’s stock valued at $37,383,000 after acquiring an additional 89,300 shares during the period. Finally, Gabelli Funds LLC lifted its stake in shares of MSG Networks by 0.5% during the third quarter. Gabelli Funds LLC now owns 1,418,400 shares of the company’s stock valued at $36,595,000 after acquiring an additional 6,800 shares during the period. Hedge funds and other institutional investors own 85.05% of the company’s stock.

Shares of MSGN opened at $22.83 on Thursday. MSG Networks Inc has a 12-month low of $17.95 and a 12-month high of $28.13. The firm has a market cap of $1.71 billion, a PE ratio of 5.99, a PEG ratio of 0.80 and a beta of 0.74.

MSG Networks (NYSE:MSGN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $192.90 million for the quarter, compared to analyst estimates of $186.33 million. During the same period last year, the company earned $0.65 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Analysts forecast that MSG Networks Inc will post 2.51 EPS for the current fiscal year.

Several brokerages have recently issued reports on MSGN. Zacks Investment Research lowered MSG Networks from a “buy” rating to a “sell” rating in a research note on Wednesday, October 24th. Imperial Capital upped their price target on MSG Networks to $32.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. They noted that the move was a valuation call. Guggenheim lowered MSG Networks from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. Finally, ValuEngine raised MSG Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus 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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