Royal Bank of Canada decreased its stake in MSG Networks Inc. (NYSE:MSGN) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,610 shares of the company’s stock after selling 18 shares during the period. Royal Bank of Canada’s holdings in MSG Networks were worth $619,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of MSG Networks by 38.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,649 shares of the company’s stock valued at $755,000 after purchasing an additional 9,375 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of MSG Networks by 222.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,855 shares of the company’s stock valued at $276,000 after purchasing an additional 8,173 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MSG Networks by 153.4% in the 2nd quarter. Principal Financial Group Inc. now owns 37,767 shares of the company’s stock valued at $848,000 after purchasing an additional 22,863 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of MSG Networks by 37.9% in the 2nd quarter. American Century Companies Inc. now owns 1,302,569 shares of the company’s stock valued at $29,243,000 after purchasing an additional 358,009 shares in the last quarter. Finally, AlphaOne Investment Services LLC boosted its stake in shares of MSG Networks by 79.9% in the 2nd quarter. AlphaOne Investment Services LLC now owns 100,200 shares of the company’s stock valued at $2,249,000 after purchasing an additional 44,500 shares in the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of MSG Networks Inc. (NYSE MSGN) opened at $17.20 on Friday. The firm has a market cap of $1,283.95, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 8.78 and a beta of 0.74. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of -1.35. MSG Networks Inc. has a 12-month low of $16.45 and a 12-month high of $25.30.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business had revenue of $157.46 million during the quarter, compared to analysts’ expectations of $157.21 million. MSG Networks had a net margin of 24.77% and a negative return on equity of 17.40%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. equities research analysts expect that MSG Networks Inc. will post 2.19 earnings per share for the current fiscal year.

MSGN has been the subject of a number of research reports. Zacks Investment Research cut shares of MSG Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. Loop Capital raised shares of MSG Networks from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research note on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $22.00 price objective on shares of MSG Networks in a research note on Monday, August 14th. FBN Securities raised shares of MSG Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Finally, ValuEngine cut shares of MSG Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Two research analysts have 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. MSG Networks has an average rating of “Hold” and a consensus price target of $23.86.

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.

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

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