LSV Asset Management Has $4.20 Million Stake in AMC Networks Inc. $AMCX

LSV Asset Management reduced its position in AMC Networks Inc. (NASDAQ:AMCX) by 17.9% during the third quarter, HoldingsChannel reports. The firm owned 510,018 shares of the company’s stock after selling 111,571 shares during the period. LSV Asset Management’s holdings in AMC Networks were worth $4,203,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AMCX. Raymond James Financial Inc. bought a new stake in AMC Networks during the second quarter valued at $25,000. Nisa Investment Advisors LLC bought a new stake in shares of AMC Networks during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in AMC Networks by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after purchasing an additional 2,735 shares during the period. CWM LLC lifted its stake in AMC Networks by 50.4% in the second quarter. CWM LLC now owns 5,695 shares of the company’s stock valued at $36,000 after buying an additional 1,909 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in AMC Networks in the third quarter valued at approximately $52,000. Institutional investors own 78.51% of the company’s stock.

Analyst Ratings Changes

AMCX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Morgan Stanley raised their target price on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, December 18th. Wells Fargo & Company boosted their target price on AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Seaport Research Partners lowered AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, AMC Networks presently has a consensus rating of “Strong Sell” and an average target price of $7.00.

AMC Networks Stock Up 3.0%

Shares of NASDAQ:AMCX opened at $7.55 on Monday. The business’s 50 day moving average is $8.71 and its 200 day moving average is $8.03. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $10.27. The stock has a market cap of $328.65 million, a price-to-earnings ratio of 5.51 and a beta of 1.12. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.14. The business had revenue of $594.80 million for the quarter, compared to analysts’ expectations of $581.83 million. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

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.