MSG Networks Inc. (MSGN) Stock Rating Upgraded by Loop Capital

MSG Networks Inc. (NYSE:MSGN) was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $19.00 target price on the stock. Loop Capital’s target price points to a potential downside of 7.32% from the stock’s previous close.

Several other analysts also recently issued reports on the company. ValuEngine upgraded MSG Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and issued a $22.00 price target on shares of MSG Networks in a research note on Thursday, September 21st. FBN Securities upgraded MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Zacks Investment Research downgraded MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. Finally, BidaskClub upgraded MSG Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.86.

MSG Networks (NYSE:MSGN) last issued its earnings results on Wednesday, August 16th. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. MSG Networks had a negative return on equity of 16.56% and a net margin of 24.78%. The company had revenue of $162.90 million during the quarter, compared to the consensus estimate of $161.91 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year.

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Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of MSG Networks by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 24,804 shares of the company’s stock valued at $557,000 after acquiring an additional 408 shares during the period. HighTower Advisors LLC lifted its position in shares of MSG Networks by 3.3% during the 2nd quarter. HighTower Advisors LLC now owns 20,039 shares of the company’s stock valued at $448,000 after acquiring an additional 648 shares during the period. Dubuque Bank & Trust Co. lifted its position in shares of MSG Networks by 8.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 8,373 shares of the company’s stock valued at $188,000 after acquiring an additional 679 shares during the period. James Investment Research Inc. lifted its position in shares of MSG Networks by 1.0% during the 2nd quarter. James Investment Research Inc. now owns 81,987 shares of the company’s stock valued at $1,840,000 after acquiring an additional 825 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of MSG Networks by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,330 shares of the company’s stock valued at $165,000 after acquiring an additional 1,097 shares during the period. Hedge funds and other institutional investors own 76.95% of the company’s stock.

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.

Analyst Recommendations for MSG Networks (NYSE:MSGN)

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