Allspring Global Investments Holdings LLC Sells 51,005 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Allspring Global Investments Holdings LLC reduced its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 42.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 69,063 shares of the company’s stock after selling 51,005 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AMC Networks were worth $1,298,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Smith Graham & Co. Investment Advisors LP bought a new position in shares of AMC Networks in the third quarter worth about $3,957,000. Charles Schwab Investment Management Inc. increased its stake in shares of AMC Networks by 29.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,374,249 shares of the company’s stock worth $16,189,000 after purchasing an additional 314,486 shares during the period. RWWM Inc. bought a new position in shares of AMC Networks in the third quarter worth about $2,068,000. Algert Global LLC increased its stake in shares of AMC Networks by 29.4% in the third quarter. Algert Global LLC now owns 242,239 shares of the company’s stock worth $2,854,000 after purchasing an additional 55,070 shares during the period. Finally, Denali Advisors LLC increased its stake in shares of AMC Networks by 31.2% in the third quarter. Denali Advisors LLC now owns 224,259 shares of the company’s stock worth $2,642,000 after purchasing an additional 53,359 shares during the period. 78.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMCX has been the topic of a number of recent analyst reports. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. TheStreet upgraded AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley lowered their price target on AMC Networks from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.75.

AMC Networks Trading Up 5.7 %

Shares of AMCX opened at $11.57 on Wednesday. AMC Networks Inc. has a 12-month low of $9.87 and a 12-month high of $20.97. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $503.99 million, a price-to-earnings ratio of 2.36 and a beta of 1.21. The stock’s 50-day moving average price is $12.15 and its 200 day moving average price is $14.69.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. AMC Networks had a return on equity of 30.42% and a net margin of 7.95%. The firm had revenue of $678.80 million for the quarter, compared to analyst estimates of $675.97 million. During the same period in the previous year, the company posted $2.52 earnings per share. The company’s quarterly revenue was down 29.6% compared to the same quarter last year. As a group, research analysts predict that AMC Networks Inc. will post 5.7 earnings per share for the current year.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.