RWWM Inc. Sells 1,619,065 Shares of AMC Networks Inc. $AMCX

RWWM Inc. trimmed its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 48.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,710,961 shares of the company’s stock after selling 1,619,065 shares during the quarter. AMC Networks comprises about 1.0% of RWWM Inc.’s investment portfolio, making the stock its 12th largest position. RWWM Inc.’s holdings in AMC Networks were worth $14,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCX. AlphaQuest LLC raised its holdings in AMC Networks by 311.7% in the 3rd quarter. AlphaQuest LLC now owns 48,226 shares of the company’s stock worth $397,000 after purchasing an additional 36,511 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of AMC Networks by 22.1% in the 3rd quarter. Federated Hermes Inc. now owns 24,772 shares of the company’s stock worth $204,000 after buying an additional 4,480 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of AMC Networks by 10.8% during the third quarter. Concurrent Investment Advisors LLC now owns 26,134 shares of the company’s stock valued at $215,000 after acquiring an additional 2,552 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in AMC Networks during the 3rd quarter valued at about $52,000. Finally, SG Americas Securities LLC increased its position in shares of AMC Networks by 24.7% during the third quarter. SG Americas Securities LLC now owns 17,929 shares of the company’s stock valued at $148,000 after acquiring an additional 3,546 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

AMC Networks stock opened at $7.71 on Friday. The company’s 50-day moving average price is $8.95 and its 200-day moving average price is $7.90. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.76. The company has a market cap of $335.62 million, a PE ratio of -2.06 and a beta of 1.04. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $10.27.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. The business had revenue of $561.74 million during the quarter, compared to the consensus estimate of $549.27 million. During the same period in the previous year, the business posted $0.91 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMCX shares. Wells Fargo & Company upgraded AMC Networks from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $5.00 to $8.00 in a report on Monday, November 10th. Seaport Research Partners downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. 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 report on Tuesday, January 6th. Finally, Morgan Stanley upped their price target on AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, December 18th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average price target of $6.50.

About AMC Networks

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.