Royce & Associates LP trimmed his position in AMC Networks Inc. (NASDAQ:AMCX – Get Rating) by 30.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 23,130 shares of the company’s stock after selling 10,060 shares during the period. Royce & Associates LP owned about 0.05% of AMC Networks worth $940,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its position in AMC Networks by 0.5% in the 4th quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock worth $2,963,000 after purchasing an additional 469 shares in the last quarter. DGS Capital Management LLC purchased a new position in AMC Networks in the first quarter valued at about $253,000. Timelo Investment Management Inc. purchased a new position in AMC Networks in the fourth quarter valued at about $2,359,000. Qube Research & Technologies Ltd purchased a new position in AMC Networks in the fourth quarter valued at about $992,000. Finally, Denali Advisors LLC boosted its stake in AMC Networks by 68,039.2% in the first quarter. Denali Advisors LLC now owns 34,751 shares of the company’s stock valued at $1,412,000 after acquiring an additional 34,700 shares during the last quarter. 78.02% of the stock is owned by institutional investors.
AMC Networks Price Performance
Shares of NASDAQ:AMCX opened at $28.93 on Friday. The company’s fifty day moving average price is $31.49 and its 200-day moving average price is $36.30. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 4.70 and a beta of 1.03. AMC Networks Inc. has a one year low of $27.36 and a one year high of $56.04. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.89 and a quick ratio of 1.89.
AMC Networks (NASDAQ:AMCX – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.39. The firm had revenue of $712.16 million for the quarter, compared to analyst estimates of $760.80 million. AMC Networks had a net margin of 8.64% and a return on equity of 45.15%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.98 EPS. On average, equities research analysts anticipate that AMC Networks Inc. will post 8.23 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of AMC Networks from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 26th. Guggenheim dropped their target price on shares of AMC Networks from $44.00 to $35.00 in a research note on Friday, May 6th. Morgan Stanley dropped their target price on shares of AMC Networks from $40.00 to $35.00 in a research note on Monday, July 18th. Moffett Nathanson dropped their price target on shares of AMC Networks to $30.00 in a research note on Friday, July 22nd. Finally, StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.29.
AMC Networks Profile
AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.
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