State of Tennessee Treasury Department continued to hold its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) during the first quarter, Holdings Channel reports. The fund owned 10,000 shares of the company’s stock at the end of the first quarter. State of Tennessee Treasury Department’s holdings in AMC Networks were worth $587,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in shares of AMC Networks by 0.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,374 shares of the company’s stock worth $380,000 after buying an additional 45 shares during the period. RNC Capital Management LLC boosted its stake in shares of AMC Networks by 10.9% in the first quarter. RNC Capital Management LLC now owns 4,462 shares of the company’s stock worth $262,000 after buying an additional 440 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of AMC Networks by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,127 shares of the company’s stock worth $530,000 after buying an additional 690 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of AMC Networks by 2.2% in the first quarter. Great West Life Assurance Co. Can now owns 34,004 shares of the company’s stock worth $1,994,000 after buying an additional 722 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AMC Networks by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 275,966 shares of the company’s stock worth $14,445,000 after buying an additional 783 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

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

AMC Networks Inc. (NASDAQ AMCX) opened at 55.85 on Tuesday. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61. The stock’s 50 day moving average price is $54.57 and its 200-day moving average price is $56.14. The stock has a market capitalization of $3.72 billion, a P/E ratio of 13.57 and a beta of 0.96.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.10. The business had revenue of $720.19 million during the quarter, compared to the consensus estimate of $720.15 million. AMC Networks had a return on equity of 502.40% and a net margin of 10.59%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Equities research analysts expect that AMC Networks Inc. will post $6.39 earnings per share for the current year.

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A number of brokerages recently issued reports on AMCX. Piper Jaffray Companies cut AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Moffett Nathanson reaffirmed a “sell” rating on shares of AMC Networks in a research report on Friday, June 9th. Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of AMC Networks in a research report on Tuesday, March 28th. Zacks Investment Research cut AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. Finally, BidaskClub raised AMC Networks from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $63.14.

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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

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