Geode Capital Management LLC increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 386,935 shares of the company’s stock after buying an additional 17,710 shares during the period. Geode Capital Management LLC owned 0.53% of AMC Networks worth $25,127,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its stake in AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock worth $304,000 after buying an additional 4,270 shares during the last quarter. Ancora Advisors LLC acquired a new stake in AMC Networks during the fourth quarter worth $1,398,000. State Street Corp increased its stake in AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock worth $103,407,000 after buying an additional 17,780 shares during the last quarter. OppenheimerFunds Inc. increased its stake in AMC Networks by 5.9% in the fourth quarter. OppenheimerFunds Inc. now owns 198,498 shares of the company’s stock worth $14,824,000 after buying an additional 10,998 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in AMC Networks by 12.3% in the fourth quarter. California Public Employees Retirement System now owns 190,900 shares of the company’s stock worth $14,256,000 after buying an additional 20,900 shares during the last quarter.
Shares of AMC Networks Inc. (NASDAQ:AMCX) traded up 0.95% during mid-day trading on Thursday, hitting $56.20. 605,531 shares of the company traded hands. The firm’s 50 day moving average price is $58.38 and its 200-day moving average price is $64.55. The stock has a market capitalization of $4.08 billion and a PE ratio of 11.46. AMC Networks Inc. has a 1-year low of $54.81 and a 1-year high of $87.18.
A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of AMC Networks from $89.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Zacks Investment Research downgraded shares of AMC Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Albert Fried & Company reiterated a “buy” rating on shares of AMC Networks in a research report on Tuesday, July 12th. Jefferies Group dropped their price target on shares of AMC Networks from $72.00 to $67.00 and set a “hold” rating for the company in a research report on Monday, July 11th. Finally, TheStreet downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $78.97.
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
