Atria Wealth Solutions Inc. acquired a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,693 shares of the company’s stock, valued at approximately $188,000.
Other large investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in AMC Networks by 79.6% during the first quarter. Thrivent Financial for Lutherans now owns 149,428 shares of the company’s stock worth $2,627,000 after purchasing an additional 66,249 shares during the last quarter. State Street Corp lifted its stake in AMC Networks by 1.5% during the first quarter. State Street Corp now owns 1,130,868 shares of the company’s stock worth $19,881,000 after purchasing an additional 16,984 shares during the last quarter. Geode Capital Management LLC lifted its stake in AMC Networks by 3.0% during the first quarter. Geode Capital Management LLC now owns 563,190 shares of the company’s stock worth $9,901,000 after purchasing an additional 16,565 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in AMC Networks by 384.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 272,531 shares of the company’s stock worth $4,791,000 after purchasing an additional 216,244 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in AMC Networks by 443.8% during the first quarter. Cubist Systematic Strategies LLC now owns 205,369 shares of the company’s stock worth $3,610,000 after purchasing an additional 167,604 shares during the last quarter. Institutional investors own 59.77% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on AMCX shares. JPMorgan Chase & Co. dropped their price target on AMC Networks from $18.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.00 price target on shares of AMC Networks in a research note on Monday, August 7th. StockNews.com started coverage on AMC Networks in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered their target price on AMC Networks from $15.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, July 31st. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $14.00.
AMC Networks Trading Down 1.5 %
NASDAQ AMCX opened at $11.54 on Wednesday. AMC Networks Inc. has a 1-year low of $9.96 and a 1-year high of $27.46. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.26. The stock has a 50-day moving average of $12.17 and a 200-day moving average of $13.94. The firm has a market cap of $502.11 million, a PE ratio of -54.95 and a beta of 1.20.
AMC Networks (NASDAQ:AMCX – Get Free Report) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.25. AMC Networks had a positive return on equity of 41.42% and a negative net margin of 0.20%. The company had revenue of $678.60 million for the quarter, compared to the consensus estimate of $711.57 million. During the same quarter in the previous year, the business earned $2.06 EPS. AMC Networks’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AMC Networks Inc. will post 6.79 EPS for the current year.
About AMC Networks
AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates through Domestic Operations, and International and Other.
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