Horizon Kinetics Asset Management LLC lowered its stake in shares of AMC Networks Inc. (NASDAQ:AMCX – Get Rating) by 67.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,404 shares of the company’s stock after selling 24,108 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in AMC Networks were worth $179,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in AMC Networks by 5.0% during the 1st quarter. Bank of Montreal Can now owns 9,179 shares of the company’s stock worth $393,000 after acquiring an additional 437 shares during the period. Mutual of America Capital Management LLC boosted its position in AMC Networks by 11.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 5,567 shares of the company’s stock worth $113,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its position in AMC Networks by 18.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock worth $195,000 after acquiring an additional 751 shares during the period. Royal Bank of Canada boosted its position in AMC Networks by 3.3% during the 3rd quarter. Royal Bank of Canada now owns 25,643 shares of the company’s stock worth $522,000 after acquiring an additional 815 shares during the period. Finally, Captrust Financial Advisors boosted its position in AMC Networks by 78.4% during the 1st quarter. Captrust Financial Advisors now owns 1,984 shares of the company’s stock worth $81,000 after acquiring an additional 872 shares during the period. Institutional investors and hedge funds own 63.13% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on AMCX shares. Morgan Stanley boosted their price target on AMC Networks from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 21st. TheStreet raised AMC Networks from a “d+” rating to a “c-” rating in a research note on Wednesday, March 1st. Wells Fargo & Company boosted their price objective on AMC Networks from $10.00 to $15.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 21st. Finally, StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, April 1st. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.17.
Insider Activity at AMC Networks
AMC Networks Stock Down 2.0 %
Shares of AMC Networks stock opened at $14.00 on Friday. The stock’s fifty day moving average is $17.25 and its 200-day moving average is $18.52. The firm has a market capitalization of $602.14 million, a PE ratio of 116.68 and a beta of 1.18. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.25. AMC Networks Inc. has a 12-month low of $13.80 and a 12-month high of $42.67.
AMC Networks (NASDAQ:AMCX – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.81. The company had revenue of $717.45 million for the quarter, compared to analyst estimates of $700.77 million. AMC Networks had a return on equity of 41.38% and a net margin of 0.25%. AMC Networks’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 earnings per share. Equities analysts anticipate that AMC Networks Inc. will post 6.91 earnings per share for the current year.
About AMC Networks
AMC Networks, Inc is a holding company, which engages in the owning and management of cable television networks through its subsidiaries. It operates through the Domestic Operations, and International and Other segments. The Domestic Operations segment includes programming services and AMC Broadcasting and Technology.
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