LSV Asset Management trimmed its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,521,559 shares of the company’s stock after selling 35,447 shares during the quarter. LSV Asset Management owned about 4.85% of AMC Networks worth $62,307,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMCX. Strs Ohio purchased a new stake in shares of AMC Networks in the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in AMC Networks in the 3rd quarter worth about $31,000. Signaturefd LLC boosted its holdings in AMC Networks by 74.7% in the 2nd quarter. Signaturefd LLC now owns 2,270 shares of the company’s stock worth $53,000 after buying an additional 971 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in AMC Networks in the 1st quarter worth about $63,000. Finally, Dupont Capital Management Corp boosted its holdings in AMC Networks by 69.0% in the 2nd quarter. Dupont Capital Management Corp now owns 3,038 shares of the company’s stock worth $71,000 after buying an additional 1,240 shares during the last quarter. 86.11% of the stock is currently owned by institutional investors and hedge funds.
AMCX stock traded down $0.56 during trading hours on Monday, hitting $22.80. The company’s stock had a trading volume of 23,515 shares, compared to its average volume of 2,109,237. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 4.16. The company has a market capitalization of $1.22 billion, a PE ratio of 2.96 and a beta of 0.87. AMC Networks Inc. has a 12 month low of $19.62 and a 12 month high of $47.50. The stock has a 50 day moving average price of $23.56 and a two-hundred day moving average price of $25.00.
AMC Networks (NASDAQ:AMCX) last posted its earnings results on Tuesday, August 4th. The company reported $2.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $1.23. The company had revenue of $646.29 million during the quarter, compared to the consensus estimate of $623.83 million. AMC Networks had a net margin of 6.66% and a return on equity of 65.61%. The company’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. Sell-side analysts expect that AMC Networks Inc. will post 5.42 earnings per share for the current year.
AMCX has been the topic of several research analyst reports. Zacks Investment Research cut AMC Networks from a “buy” rating to a “hold” rating in a report on Tuesday, October 20th. Guggenheim lowered their price objective on AMC Networks from $31.00 to $27.00 in a report on Friday, August 14th. JPMorgan Chase & Co. cut AMC Networks from a “neutral” rating to an “underweight” rating and set a $20.00 price objective on the stock. in a report on Monday, October 19th. BidaskClub lowered shares of AMC Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, September 4th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $30.00 target price on shares of AMC Networks in a research note on Thursday, August 6th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.46.
AMC Networks Profile
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
Featured Story: Learning About the VIX – Volatility Index
Receive News & Ratings for AMC Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks and related companies with MarketBeat.com's FREE daily email newsletter.