Prudential PLC reduced its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after selling 20,000 shares during the period. Prudential PLC owned about 0.16% of AMC Networks worth $5,341,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of AMC Networks by 24.4% in the second quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after acquiring an additional 414 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of AMC Networks by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after acquiring an additional 1,328 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of AMC Networks by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after acquiring an additional 88 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of AMC Networks in the first quarter worth approximately $194,000. 84.94% of the stock is currently owned by institutional investors.
Shares of AMC Networks Inc. (AMCX) traded up 0.063% on Wednesday, reaching $55.625. The company had a trading volume of 24,467 shares. The company has a 50 day moving average price of $58.42 and a 200 day moving average price of $57.74. AMC Networks Inc. has a 52-week low of $46.17 and a 52-week high of $67.61. The stock has a market capitalization of $3.54 billion, a PE ratio of 12.153 and a beta of 1.06.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.47. The firm had revenue of $710.55 million during the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. On average, equities research analysts anticipate that AMC Networks Inc. will post $6.67 earnings per share for the current year.
A number of equities analysts have weighed in on AMCX shares. BidaskClub raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Sanford C. Bernstein reissued a “market perform” rating on shares of AMC Networks in a research note on Tuesday, September 12th. Zacks Investment Research downgraded AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Cowen and Company restated a “hold” rating and issued a $53.00 target price on shares of AMC Networks in a research report on Thursday, September 21st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $60.00 target price on shares of AMC Networks in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. AMC Networks presently has a consensus rating of “Hold” and a consensus target price of $59.00.
AMC Networks Profile
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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
Receive News & Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related companies with our FREE daily email newsletter.