Russell Investments Group Ltd. Decreases Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Russell Investments Group Ltd. trimmed its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 8.8% in the second quarter, HoldingsChannel reports. The fund owned 25,233 shares of the company’s stock after selling 2,443 shares during the period. Russell Investments Group Ltd.’s holdings in AMC Networks were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in AMCX. Contrarius Investment Management Ltd raised its position in AMC Networks by 43.0% in the 1st quarter. Contrarius Investment Management Ltd now owns 2,196,949 shares of the company’s stock worth $116,790,000 after purchasing an additional 660,337 shares during the period. BlackRock Inc. boosted its holdings in AMC Networks by 6.5% during the 1st quarter. BlackRock Inc. now owns 4,818,165 shares of the company’s stock valued at $256,135,000 after acquiring an additional 292,885 shares during the period. Thrivent Financial for Lutherans grew its position in AMC Networks by 950.7% during the 1st quarter. Thrivent Financial for Lutherans now owns 258,781 shares of the company’s stock worth $13,757,000 after acquiring an additional 234,152 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in AMC Networks in the 1st quarter worth approximately $5,732,000. Finally, Caption Management LLC increased its stake in AMC Networks by 113.1% in the 1st quarter. Caption Management LLC now owns 11,800 shares of the company’s stock worth $627,000 after purchasing an additional 101,800 shares during the period. 75.66% of the stock is owned by institutional investors.

Several brokerages recently commented on AMCX. Zacks Investment Research raised shares of AMC Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, August 10th. Deutsche Bank Aktiengesellschaft cut shares of AMC Networks from a “hold” rating to a “sell” rating and boosted their price objective for the company from $32.00 to $48.00 in a research report on Thursday, July 22nd. Finally, TheStreet lowered shares of AMC Networks from a “b-” rating to a “c+” rating in a report on Thursday, August 19th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.70.

NASDAQ:AMCX opened at $47.68 on Friday. The company has a 50-day moving average price of $50.39 and a 200-day moving average price of $55.69. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 7.80 and a beta of 1.26. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 3.60. AMC Networks Inc. has a 12 month low of $20.16 and a 12 month high of $83.63.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, August 5th. The company reported $3.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.18 by $1.27. AMC Networks had a net margin of 9.64% and a return on equity of 64.53%. The company had revenue of $771.39 million during the quarter, compared to the consensus estimate of $698.12 million. During the same period in the prior year, the firm earned $2.39 earnings per share. AMC Networks’s revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that AMC Networks Inc. will post 8.34 EPS for the current fiscal year.

About AMC Networks

AMC Networks, Inc is a holding company, which engages in owning and management of cable television networks through its subsidiaries. It operates through the National Networks and International and Other segments. The National Networks segment includes activities of AMC Studios operations, AMC Broadcasting and Technology, and national programming networks, namely: AMC, WEtv, BBC AMERICA, IFC, and SundanceTV in the U.

Further Reading: Trade Deficit

Want to see what other hedge funds are holding AMCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMC Networks Inc. (NASDAQ:AMCX).

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

Receive News & Ratings for AMC Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks and related companies with MarketBeat.com's FREE daily email newsletter.