AMC Networks Inc. $AMCX Stake Reduced by UBS Group AG

UBS Group AG trimmed its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 31.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 806,878 shares of the company’s stock after selling 363,586 shares during the quarter. UBS Group AG’s holdings in AMC Networks were worth $7,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Marshall Wace LLP grew its stake in shares of AMC Networks by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 1,419,545 shares of the company’s stock worth $8,901,000 after purchasing an additional 399,478 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in AMC Networks by 902.2% during the third quarter. Russell Investments Group Ltd. now owns 286,603 shares of the company’s stock valued at $2,362,000 after purchasing an additional 258,005 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in AMC Networks by 25.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 996,769 shares of the company’s stock valued at $9,220,000 after purchasing an additional 204,895 shares during the last quarter. Squarepoint Ops LLC bought a new stake in AMC Networks during the third quarter worth approximately $1,328,000. Finally, Bridgeway Capital Management LLC boosted its holdings in AMC Networks by 26.9% during the third quarter. Bridgeway Capital Management LLC now owns 651,051 shares of the company’s stock worth $5,365,000 after buying an additional 137,885 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

AMCX stock opened at $8.35 on Tuesday. The firm has a 50 day simple moving average of $7.75 and a 200 day simple moving average of $8.20. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week high of $10.27. The stock has a market cap of $366.80 million, a P/E ratio of 13.92 and a beta of 1.31. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.75 and a current ratio of 1.75.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.14). AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. The company had revenue of $542.13 million during the quarter, compared to analyst estimates of $540.67 million. During the same quarter in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that AMC Networks Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Activity at AMC Networks

In other news, CAO Michael J. Sherin III sold 5,963 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer directly owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. This represents a 35.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMCX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, January 21st. Morgan Stanley set a $7.00 price objective on AMC Networks in a research note on Thursday, April 30th. Finally, Wells Fargo & Company lifted their target price on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.50.

AMC Networks 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.