MSG Networks Inc (NYSE:MSGN) Stock Holdings Lifted by Shine Investment Advisory Services Inc.

Shine Investment Advisory Services Inc. boosted its position in shares of MSG Networks Inc (NYSE:MSGN) by 21.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,354 shares of the company’s stock after purchasing an additional 594 shares during the period. Shine Investment Advisory Services Inc.’s holdings in MSG Networks were worth $70,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. grew its position in MSG Networks by 3.7% during the 2nd quarter. Bessemer Group Inc. now owns 70,500 shares of the company’s stock worth $1,462,000 after purchasing an additional 2,500 shares in the last quarter. Selz Capital LLC purchased a new position in shares of MSG Networks during the 2nd quarter valued at $12,263,000. First Hawaiian Bank grew its holdings in shares of MSG Networks by 15.9% during the 2nd quarter. First Hawaiian Bank now owns 18,403 shares of the company’s stock valued at $382,000 after acquiring an additional 2,523 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of MSG Networks by 232.0% during the 2nd quarter. Denali Advisors LLC now owns 39,100 shares of the company’s stock valued at $811,000 after acquiring an additional 27,322 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of MSG Networks by 62.3% during the 1st quarter. First Trust Advisors LP now owns 121,424 shares of the company’s stock valued at $2,641,000 after acquiring an additional 46,620 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Several equities analysts have recently commented on MSGN shares. JPMorgan Chase & Co. cut shares of MSG Networks from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $19.00 in a report on Friday, July 19th. Rosenblatt Securities set a $23.00 price target on shares of MSG Networks and gave the company a “hold” rating in a report on Thursday, June 20th. Morgan Stanley lowered their price target on shares of MSG Networks from $22.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. Zacks Investment Research upgraded shares of MSG Networks from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Finally, ValuEngine cut shares of MSG Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Three 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 company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.67.

Shares of MSGN stock traded down $0.37 on Wednesday, hitting $17.87. The company’s stock had a trading volume of 2,708 shares, compared to its average volume of 409,650. MSG Networks Inc has a fifty-two week low of $18.20 and a fifty-two week high of $28.13. The firm’s fifty day moving average price is $20.05. The firm has a market cap of $1.39 billion, a PE ratio of 4.70, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72.

MSG Networks Company 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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