Alps Advisors Inc. Purchases Shares of 8,336 AMC Networks Inc. (AMCX)
Alps Advisors Inc. purchased a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,336 shares of the company’s stock, valued at approximately $487,000.
Several other hedge funds have also bought and sold shares of the business. Investec Asset Management LTD increased its stake in shares of AMC Networks by 35.4% in the second quarter. Investec Asset Management LTD now owns 1,240,793 shares of the company’s stock worth $66,271,000 after buying an additional 324,669 shares during the period. FMR LLC increased its stake in shares of AMC Networks by 9.9% in the second quarter. FMR LLC now owns 1,172,084 shares of the company’s stock worth $62,601,000 after buying an additional 105,290 shares during the period. AJO LP increased its stake in shares of AMC Networks by 121.4% in the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after buying an additional 546,211 shares during the period. LSV Asset Management increased its stake in shares of AMC Networks by 284.0% in the second quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after buying an additional 533,360 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of AMC Networks by 34.1% in the second quarter. Ameriprise Financial Inc. now owns 510,465 shares of the company’s stock worth $27,264,000 after buying an additional 129,781 shares during the period. 83.04% of the stock is currently owned by hedge funds and other institutional investors.
AMCX has been the topic of several analyst reports. BidaskClub raised shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price target (up previously from $60.00) on shares of AMC Networks in a report on Friday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Finally, Cowen and Company reiterated a “hold” rating and issued a $53.00 price target on shares of AMC Networks in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $59.62.
AMC Networks Inc. (NASDAQ:AMCX) opened at $50.14 on Friday. The stock has a market cap of $3,101.81, a PE ratio of 7.20, a P/E/G ratio of 0.94 and a beta of 1.09. AMC Networks Inc. has a one year low of $46.89 and a one year high of $67.61. The company has a debt-to-equity ratio of 37.53, a current ratio of 2.57 and a quick ratio of 2.57.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.53. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The business had revenue of $648.00 million during the quarter, compared to analyst estimates of $660.79 million. During the same quarter in the previous year, the firm earned $1.11 EPS. AMC Networks’s revenue was up 2.1% on a year-over-year basis. analysts expect that AMC Networks Inc. will post 7.01 earnings per share for the current year.
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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