Wealth Enhancement Advisory Services LLC Has $1,195,000 Position in AMC Networks Inc. (AMCX)
Wealth Enhancement Advisory Services LLC raised its stake in AMC Networks Inc. (NASDAQ:AMCX) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,781 shares of the company’s stock after buying an additional 2,897 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AMC Networks were worth $1,195,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of AMCX. UBS Group AG boosted its position in AMC Networks by 167.8% in the first quarter. UBS Group AG now owns 32,514 shares of the company’s stock worth $2,111,000 after buying an additional 20,371 shares during the period. Lazard Asset Management LLC boosted its position in AMC Networks by 759.8% in the first quarter. Lazard Asset Management LLC now owns 293,242 shares of the company’s stock worth $19,043,000 after buying an additional 259,137 shares during the period. State Street Corp boosted its position in AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock worth $103,407,000 after buying an additional 17,780 shares during the period. Investec Asset Management North America Inc. boosted its position in AMC Networks by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 11,099 shares of the company’s stock worth $721,000 after buying an additional 3,178 shares during the period. Finally, M&T Bank Corp boosted its position in AMC Networks by 2.7% in the first quarter. M&T Bank Corp now owns 5,742 shares of the company’s stock worth $374,000 after buying an additional 151 shares during the period. Institutional investors own 83.72% of the company’s stock.
AMC Networks Inc. (NASDAQ:AMCX) traded up 0.23% during mid-day trading on Friday, reaching $48.37. The company’s stock had a trading volume of 281,272 shares. AMC Networks Inc. has a 1-year low of $47.18 and a 1-year high of $83.78. The stock’s 50 day moving average price is $52.17 and its 200 day moving average price is $58.86. The stock has a market capitalization of $3.45 billion, a P/E ratio of 10.07 and a beta of 0.84.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.28. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The company earned $685 million during the quarter, compared to analysts’ expectations of $676.87 million. During the same period in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Analysts expect that AMC Networks Inc. will post $5.56 EPS for the current fiscal year.
A number of research analysts have commented on the company. Credit Agricole SA set a $89.00 price target on AMC Networks and gave the stock a “buy” rating in a research note on Saturday, September 17th. Jefferies Group restated a “hold” rating on shares of AMC Networks in a research note on Monday, September 12th. Zacks Investment Research cut AMC Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Morgan Stanley cut AMC Networks from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Finally, TheStreet cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $73.13.
About AMC Networks
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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