MSG Networks Inc $ 9.11 -0.09 (-0.98%)
MSGN News and Headlines - MSG Networks Inc
Shares of owner and operator of regional sports and entertainment networks, MSG Networks Inc. (MSGN) have been pressured by uncertainty surrounding the financial and operating implications related to the NBA and NHL halting their seasons. Investors are also concerned with continued subscriber losses across Cable, Telco and Satellite video distributors, which has negative implications for affiliate revenue. On a positive note, the company bought back a little more than 6% of shares outstanding in the quarter, further supporting our view that shares are currently undervalued. We believe MSGN’s long term rights agreement to broadcast Knicks and Rangers games
MSG Networks Inc. (MSGN) (0.8%) owns and operates two regional sports and entertainment networks broadcasting exclusive live local games from New York and New Jersey based professional sports teams, among other sporting events. The company’s September 30 quarterly results showed a decrease in revenue, operating income, and net income.
From [url=https://www.gurufocus.com/StockBuy.php?GuruName=Mario+Gabelli]Mario Gabelli[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Mario+Gabelli]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Mario+Gabelli]Portfolio[/url])'s Gabelli Value 25 Fund 2019 annual shareholder letter.
To Our Shareholders,
Enclosed are the financial statements, including the schedule of investments, as of December 31, 2019.For the year ended December 31, 2019, the net asset value (NAV) per Class A Share of The Gabelli Value 25 Fund Inc. increased 17.8% compared with increases of 31.5% and 25.3% for the Standard & Poor’s (S&P) 500 Index and the Dow Jones Industrial Average, respectively. Other classes of shares are available. See page 4 for performance information for all classes of shares.
Performance Discussion (Unaudited)
The investment objective of the Fund is to provide long term capital appreciation. The Fund’s investment
Shareholders of Sprint Corp. (S) and MSG Networks Inc. (MSGN) have ample reason to feel dissatisfied with their holdings.
First of all, these two stocks have underperformed the S&P 500 Index in recent years. While the index grew 27.3% over the past year, 44.8% over the past three years and 60.3% over the past five years through Jan. 13, these two stocks underperformed significantly.
Second, these stocks don’t pay dividends.
Third, Wall Street sell-side analysts recommend easing exposure to these stocks.
Shares of Sprint have dropped 20% in the past year, 45.2% in the past three years and rose
John Rogers (Trades, Portfolio), founder of Ariel Investment, disclosed last week that his firm’s top five buys for the third quarter were The Interpublic Group of Companies Inc. (IPG), Baidu Inc. (BIDU), Mattel Inc. (MAT), MSG Networks Inc. (MSGN) and Phillip Morris International Inc. (PM).
Ariel Investment concentrates its investments on small and medium-sized companies using an investing approach centered on patience, independent thinking and long-term outlook. The fund seeks companies with high barriers to entry, sustainable competitive advantages, predictable fundamentals and low forward price-earnings ratios.
As of quarter-end, Ariel Investment’s
The guru’s Chicago-based firm invests in undervalued small and mid-cap companies that have sustainable competitive advantages, high barriers to entry and predictable fundamentals that allow for double-digit earnings growth. Rogers emphasizes that patience, independent thinking and a long-term outlook are necessary for generating good returns.
According to GuruFocus Real-Time Picks, a Premium feature, the firm invested in 1.16 million shares of the New York-based media company on Oct. 31. It now holds a total
Lastly, owner and operator of regional sports and entertainment networks, MSG Networks, Inc. (MSGN) decreased -21.79%, following an acceleration of reported subscriber losses across Cable, Telco and Satellite video distributors in the quarter. Shares have also been negatively impacted by the lower than expected multiple paid by the Sinclair Broadcast Group, Inc. (SBGI) for the regional sports networks (“RSNs”) included in Walt Disney Company’s (DIS) forced sale of certain 21st Century Fox assets. Management took advantage of the recent weakness in shares and launched a modified Dutch auction, repurchasing ~20% of total shares outstanding. At current levels, MSGN is trading
Other holdings underperformed in the quarter. Owner and operator of regional sports and entertainment networks, MSG Networks, Inc. (NYSE:MSGN) declined -7.68% in the quarter, mainly on news surrounding Walt Disney Co.’s (NYSE:DIS) forced sale of the recently acquired 21st Century Fox’s regional sports networks “RSNs”. The market is using this transaction, which includes YES Network, as a benchmark for MSGN’s valuation. The situation continues to be fluid and visibility is limited given the absence of official commentary from DIS and unconfirmed sources cited by the press. Aside from the pending RSN sale, the market has
Investing in small- and mid-cap stocks is riskier and more volatile than investing in large-cap stocks. The intrinsic value of the stocks in which the Fund invests may never be recognized by the broader market. Ariel Fund is often concentrated in fewer sectors than its benchmarks, and its performance may suffer if these sectors underperform the overall stock market.
Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes the reinvestment of dividends and capital gains, and represents returns of the Investor Class shares. The investment return and principal value of an investment will
MSG Networks, Inc. (NYSE:MSGN) engages in sports production, content development, and distribution. Its shares fell -8.68% during the quarter despite reporting better than expected results—with subscription deceleration likely weighing on its stock price. Although the actual rate of decline was the second-slowest since MSGN became a standalone company, cable providers are not eager to pay MSGN premium prices. Additionally, the company’s Chairman is widely believed to be open to selling the business. As a result, MSGN’s share price thrashes in reaction to the evolving headlines surrounding Disney’s disposition of the regional sports networks that accompanied the Fox acquisition. Ultimately,
The universe I can’t play in [i.e., small companies] has become more attractive than the universe I can play in [large companies]. I have to look for elephants. It maybe that the elephants are not as attractive as the mosquitoes. But that is the universe I must live in.” – [url=http://www.gurufocus.com/StockBuy.php?GuruName=Warren+Buffett]Warren Buffett[/url] ([url=http://www.gurufocus.com/StockBuy.php?GuruName=Warren+Buffett]Trades[/url], [url=http://www.gurufocus.com/holdings.php?GuruName=Warren+Buffett]Portfolio[/url])
This is our first investor letter for the Boyar’s Orphaned Equity Strategy. Before we discuss our performance and investment outlook, we thought it would be helpful to recap why we decided to introduce the strategy.
The U.S. stock market has been largely driven by
U.S. stock markets were trading in negative territory on Wednesday morning, with the tech sector leading the way down, as Facebook (FB) and Microsoft (MSFT) declined.
Shares of MSG Networks Inc. (MSGN) jumped on Wednesdaymorning after the company posted fourth-quarter earnings per share of 60 cents on revenue of $171.4 million, representing 5.2% growth. It beat earnings estimates by 3 cents and revenue estimates by
Supported by relatively stable global growth, strong earnings fundamentals and U.S. tax reform, the current bull cycle weathered another quarter of volatility. Investor concerns around trade tensions, geopolitical issues, increasingly tight monetary conditions in the U.S. and rising inflationary pressures took center stage. As a result, the domestically focused U.S. small-cap Russell 2000 Value Index posted a +8.30% return, significantly outperforming its large-cap peer, the S&P 500 Index, which increased +3.43%. International equities struggled in the quarter as the MSCI EAFE Index declined -1.24%. For the quarter the Ariel Focus Fund traded +2.80% higher, which was significantly better than the
During this meeting, Boyar discussed:
• Five stocks that Boyar Value Group believes are currently intrinsically undervalued.
• The investment thesis for each of these companies.
• Catalyst(s) they believe will occur to help unlock value.
• Techniques that the Boyar Value Group utilizes to uncover intrinsically undervalued companies.
I’ve been writing a lot of bearish articles over the past year and with the S&P 500 down close to 5% today, I’ll switch it up with a more upbeat sound. It’s already a bad enough day. John Rogers (Trades, Portfolio), CEO and CIO of Ariel Investments, appeared on CNBC Tuesday morning and shared his view on markets as well as a couple of interesting stock picks.
Madison Square Garden Networks (MSGN)
One of Rogers' favorite picks is Madison Square Garden Networks. On the recent earnings call, management explained how much tax reform will
Someone emailed me this question:
Why do you focus so much on FCF yield?
Take a look at these stocks (note: he provides a link to a list of 40 stocks with a free cash flow yield of 10% or higher).
What would stop them from returning 10 %+ every year, as opposed to NACCO, OMC etc., stocks that have very high FCF yields, and that you openly like a lot?
In other words, how do you look at different FCF Yields and decide: This is a real yield, and this is not?”
The number that
Mark Boyar and Jonathan Boyar were interviewed in the March 4, 2017 issue of Barron’s. Jonathan Boyar, principal of Boyar Value Group, will also speak at the GuruFocus 2017 Value Conference
In Barron’s previous interview with the Boyar Value Group, (“How to Buy Dollar Bills for 50 Cents,” Aug. 17, 2013), Mark Boyar recommended five stocks, including Microsoft (MSFT) and Molson Coors Brewing (TAP). Those five stocks have returned an average of 69.1% since then, versus 55.5% for the S&P 500.
In this interview, Mark and Jonathan Boyar revealed that the Boyar Value Group is now partial to Madison Square
John Rogers (Trades, Portfolio) is the Founder of Ariel Investment LLC. He manages a portfolio composed of 192 stocks with a total value of $7,965 million. According to GuruFocus Real-Time picks, the most recent trades, done during the third quarter, are the following.
The investor reduced his stake in Spartan Motors Inc. (SPAR)Â by 18.27% with an impact of -0.05% on the portfolio.
The company is a custom engineer and manufacturer of specialized motor vehicle chassis and bodies. The company, through its subsidiaries, manufacturers bodies for markets including emergency response vehicles and delivery and service vehicles. During
Rogers has been involved with the company since the first quarter of 2011. The purchase had an impact of 0.36% on his portfolio.
MSG Networks is an entertainment distribution platform that produces, develops and acquires content. It consists of two sports and entertainment networks, MSG Network and MSG+, along with MSGNetworks.com and MSG GO.
The company has a market cap
Have you ever daydreamed about owning a professional sports team? Sports franchises, however, aren’t publicly traded, which makes their ownership the past-time of restless billionaires (when they're not running for president).
That’s where the following investment opportunities come into play. First, we examine the biggest and safest in the industry: Madison Square Garden Company (MSG).
With a market cap of $4.01 billion, Madison Square Garden will continue to outperform the broader markets, as increasingly confident consumers spend more discretionary income on sports and entertainment.
The company’s MSG Sports unit features live sporting events including professional boxing, hockey, professional and college
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