MSG Networks Inc. (NYSE:MSGN) Shares Sold by JPMorgan Chase & Co

Claudine Rigal
Juillet 17, 2017

The institutional investor owned 4,116,713 shares of the company's stock after selling 1,382 shares during the period. (NYSE:MSGN) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of MSG Networks by 384.1% in the first quarter. Credit Suisse AG now owns 14,940 shares of the company's stock worth $2,984,000 after buying an additional 1,437 shares in the last quarter. Russell Investments Group Ltd. now owns 68,635 shares of the company's stock valued at $13,705,000 after buying an additional 28,273 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in The Madison Square Garden Company by 1.4% in the first quarter. First Allied Advisory Services Inc. now owns 1,353 shares of the company's stock worth $232,000 after buying an additional 14 shares during the period. Finally, CGOV Asset Management purchased a new position in The Madison Square Garden Company during the first quarter worth about $266,000. Brown Advisory Inc. now owns 12,025 shares of the company's stock worth $258,000 after buying an additional 396 shares in the last quarter. Janney Montgomery Scott LLC now owns 1,666 shares of the company's stock worth $333,000 after buying an additional 166 shares in the last quarter. Dedicated investors may be looking to employ another tool for doing technical stock analysis.

MSG Networks Inc, formerly The Madison Square Garden Company, is engaged in sports production, and content development and distribution. The firm has a 50-day moving average of $21.93 and a 200 day moving average of $22.49. The Madison Square Garden Company has a 12-month low of $160.96 and a 12-month high of $206.60. The stock has a market capitalization of $1.73 billion, a P/E ratio of 9.86 and a beta of 0.79.

The Madison Square Garden Company (NYSE:MSG) last released its earnings results on Thursday, May 4th. The company's stock had a trading volume of 90,163 shares. The business had revenue of $386 million during the quarter, compared to analyst estimates of $365.57 million.

Taking a look at another technical level, Madison Square Garden Co (MSG) presently has a 14-day Commodity Channel Index (CCI) of 30.04. The company's revenue was up 2.0% compared to the same quarter past year. During the same quarter in the previous year, the company earned ($2.47) earnings per share. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/07/17/brokers-set-expectations-for-the-madison-square-garden-companys-q1-2018-earnings-msg.html.

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MSG has been the topic of several research analyst reports. On average, equities research analysts anticipate that The Madison Square Garden Company will post ($0.55) EPS for the current fiscal year. ValuEngine downgraded MSG Networks from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 2nd. The company presently has a consensus rating of "Buy" and a consensus target price of $195.90. Finally, Zacks Investment Research downgraded shares of MSG Networks from a "hold" rating to a "sell" rating in a research note on Wednesday, April 19th. Jefferies Group LLC increased their price objective on shares of MSG Networks from $20.00 to $22.00 and gave the company a "hold" rating in a research note on Monday, May 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. They set a "buy" rating and a $243.00 price target for the company. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The Company delivers live games of the New York Knicks (the Knicks) of the National Basketball Association (NBA); the New York Rangers (the Rangers), New York Islanders (the Islanders), New Jersey Devils (the Devils) and Buffalo Sabres (the Sabres) of the National Hockey League (NHL); the New York Liberty (the Liberty) of the Women's National Basketball Association; the New York Red Bulls (the Red Bulls) of Major League Soccer (MLS), and the Westchester Knicks of the National Basketball Association Developmental League.

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