Seizert Capital Partners LLC Makes New $1.94 Million Investment in MSG Networks Inc (NYSE:MSGN)

Seizert Capital Partners LLC bought a new position in shares of MSG Networks Inc (NYSE:MSGN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 93,695 shares of the company’s stock, valued at approximately $1,943,000. Seizert Capital Partners LLC owned 0.13% of MSG Networks at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Clearbridge Investments LLC boosted its stake in MSG Networks by 0.6% during the first quarter. Clearbridge Investments LLC now owns 4,068,197 shares of the company’s stock worth $88,483,000 after buying an additional 25,685 shares during the period. Gabelli Funds LLC boosted its stake in shares of MSG Networks by 0.5% in the first quarter. Gabelli Funds LLC now owns 1,415,900 shares of the company’s stock valued at $30,796,000 after purchasing an additional 7,500 shares during the period. Systematic Financial Management LP boosted its stake in shares of MSG Networks by 0.4% in the second quarter. Systematic Financial Management LP now owns 1,214,030 shares of the company’s stock valued at $25,179,000 after purchasing an additional 4,777 shares during the period. River Road Asset Management LLC purchased a new position in shares of MSG Networks in the first quarter valued at approximately $24,320,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of MSG Networks by 37.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 920,000 shares of the company’s stock valued at $20,010,000 after purchasing an additional 250,000 shares during the period. 87.91% of the stock is owned by institutional investors.

MSGN has been the subject of several recent research reports. ValuEngine lowered shares of MSG Networks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Rosenblatt Securities set a $15.00 price objective on shares of MSG Networks and gave the company a “hold” rating in a research note on Wednesday. Guggenheim lowered their price objective on shares of MSG Networks from $24.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Investment Research raised shares of MSG Networks from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Macquarie lowered their price objective on shares of MSG Networks from $22.00 to $16.50 and set a “neutral” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. MSG Networks presently has an average rating of “Hold” and a consensus target price of $18.64.

NYSE:MSGN traded down $0.53 during mid-day trading on Friday, hitting $14.03. The stock had a trading volume of 775,656 shares, compared to its average volume of 700,780. The stock has a 50-day simple moving average of $18.82 and a two-hundred day simple moving average of $21.39. The company has a market capitalization of $1.09 billion, a PE ratio of 5.92, a PEG ratio of 1.79 and a beta of 0.72. MSG Networks Inc has a twelve month low of $13.99 and a twelve month high of $28.13.

MSG Networks (NYSE:MSGN) last issued its earnings results on Wednesday, August 21st. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). The firm had revenue of $168.36 million during the quarter, compared to analyst estimates of $170.87 million. MSG Networks had a net margin of 25.83% and a negative return on equity of 34.89%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. As a group, equities analysts anticipate that MSG Networks Inc will post 2.43 EPS for the current fiscal year.

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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