AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by IFP Advisors Inc

Posted by on May 13th, 2023

IFP Advisors Inc lessened its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX – Get Rating) by 55.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,518 shares of the company’s stock after selling 3,182 shares during the period. IFP Advisors Inc’s holdings in AMC Networks were worth $152,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of AMC Networks in the third quarter valued at $28,000. Captrust Financial Advisors lifted its position in shares of AMC Networks by 78.4% in the first quarter. Captrust Financial Advisors now owns 1,984 shares of the company’s stock valued at $81,000 after acquiring an additional 872 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of AMC Networks in the third quarter valued at $88,000. Quantbot Technologies LP purchased a new stake in shares of AMC Networks in the first quarter valued at $99,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of AMC Networks by 11.0% in the third quarter. Mutual of America Capital Management LLC now owns 5,567 shares of the company’s stock valued at $113,000 after acquiring an additional 551 shares in the last quarter. Institutional investors and hedge funds own 63.13% of the company’s stock.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $14.00 on Friday. AMC Networks Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $42.67. The business has a 50 day moving average price of $17.25 and a two-hundred day moving average price of $18.52. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.25. The firm has a market cap of $602.14 million, a PE ratio of 116.68 and a beta of 1.18.

AMC Networks (NASDAQ:AMCX – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.81. AMC Networks had a return on equity of 41.38% and a net margin of 0.25%. The firm had revenue of $717.45 million during the quarter, compared to analyst estimates of $700.77 million. During the same quarter last year, the firm earned $2.54 EPS. AMC Networks’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts expect that AMC Networks Inc. will post 6.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AMC Networks news, EVP James Gallagher sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $23.15, for a total transaction of $463,000.00. Following the transaction, the executive vice president now owns 28,867 shares of the company’s stock, valued at approximately $668,271.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. 27.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AMCX. Wells Fargo & Company increased their target price on AMC Networks from $10.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 21st. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research report on Saturday, April 1st. TheStreet upgraded AMC Networks from a “d+” rating to a “c-” rating in a research report on Wednesday, March 1st. Finally, Morgan Stanley raised their price objective on AMC Networks from $19.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, AMC Networks presently has an average rating of “Hold” and a consensus target price of $24.17.

About AMC Networks

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AMC Networks, Inc is a holding company, which engages in the owning and management of cable television networks through its subsidiaries. It operates through the Domestic Operations, and International and Other segments. The Domestic Operations segment includes programming services and AMC Broadcasting and Technology.

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Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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