LSV Asset Management Sells 111,571 Shares of AMC Networks Inc. $AMCX

LSV Asset Management cut its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 510,018 shares of the company’s stock after selling 111,571 shares during the quarter. LSV Asset Management owned 1.18% of AMC Networks worth $4,203,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in AMC Networks in the 2nd quarter valued at $25,000. Nisa Investment Advisors LLC bought a new stake in AMC Networks during the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. increased its holdings in AMC Networks by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after buying an additional 2,735 shares during the period. CWM LLC increased its holdings in AMC Networks by 50.4% in the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock valued at $36,000 after buying an additional 1,909 shares during the period. Finally, State of Wyoming acquired a new position in shares of AMC Networks in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Morgan Stanley lifted their price target on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, December 18th. Wells Fargo & Company raised their price objective on AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday. Zacks Research upgraded AMC Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Seaport Research Partners downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $7.00.

AMC Networks Stock Up 3.0%

NASDAQ:AMCX opened at $7.55 on Monday. AMC Networks Inc. has a one year low of $5.41 and a one year high of $10.27. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $328.65 million, a PE ratio of 5.51 and a beta of 1.12. The firm’s 50 day simple moving average is $8.71 and its 200 day simple moving average is $8.03.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.14. The company had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. AMC Networks’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, research analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.

AMC Networks Company Profile

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.