Allspring Global Investments Holdings LLC Trims Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Allspring Global Investments Holdings LLC lowered its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 42.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,063 shares of the company’s stock after selling 51,005 shares during the period. Allspring Global Investments Holdings LLC owned about 0.16% of AMC Networks worth $1,298,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in AMC Networks by 0.9% during the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after buying an additional 30,721 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in AMC Networks by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,374,249 shares of the company’s stock valued at $16,189,000 after buying an additional 314,486 shares in the last quarter. Invesco Ltd. raised its stake in AMC Networks by 6.2% during the third quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock valued at $6,231,000 after buying an additional 30,646 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AMC Networks by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 359,992 shares of the company’s stock valued at $4,241,000 after buying an additional 10,439 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP acquired a new stake in AMC Networks during the third quarter valued at approximately $3,957,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMCX shares. TheStreet upgraded AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. Morgan Stanley dropped their price target on AMC Networks from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Monday, February 12th. Finally, StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.75.

AMC Networks Stock Up 5.7 %

Shares of AMC Networks stock opened at $11.57 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.14. The business’s 50 day simple moving average is $12.15 and its 200-day simple moving average is $14.69. The stock has a market capitalization of $503.99 million, a price-to-earnings ratio of 2.36 and a beta of 1.21. AMC Networks Inc. has a twelve month low of $9.87 and a twelve month high of $20.97.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. AMC Networks had a return on equity of 30.42% and a net margin of 7.95%. The business had revenue of $678.80 million during the quarter, compared to analyst estimates of $675.97 million. During the same period in the prior year, the company posted $2.52 EPS. The business’s revenue for the quarter was down 29.6% compared to the same quarter last year. Equities research analysts forecast that AMC Networks Inc. will post 5.7 earnings per share for the current year.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.