Federated Hermes Inc. Acquires 4,113 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Federated Hermes Inc. increased its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,230 shares of the company’s stock after acquiring an additional 4,113 shares during the quarter. Federated Hermes Inc. owned approximately 0.51% of AMC Networks worth $4,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in AMC Networks by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after acquiring an additional 30,721 shares during the last quarter. Barclays PLC grew its holdings in AMC Networks by 164.5% during the third quarter. Barclays PLC now owns 41,906 shares of the company’s stock valued at $495,000 after purchasing an additional 26,061 shares during the period. Smith Graham & Co. Investment Advisors LP purchased a new stake in AMC Networks in the third quarter worth $3,957,000. Assenagon Asset Management S.A. raised its stake in shares of AMC Networks by 152.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock valued at $750,000 after buying an additional 24,085 shares during the period. Finally, RWWM Inc. purchased a new position in shares of AMC Networks during the 3rd quarter valued at $2,068,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMCX shares. TheStreet upgraded AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Finally, Morgan Stanley reduced their price objective on shares of AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.75.

AMC Networks Trading Down 4.4 %

Shares of AMC Networks stock opened at $10.83 on Friday. The company’s 50-day moving average price is $12.00 and its 200-day moving average price is $14.64. The company has a market cap of $471.75 million, a price-to-earnings ratio of 2.21 and a beta of 1.21. AMC Networks Inc. has a 12-month low of $9.87 and a 12-month high of $20.97. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.14.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $678.80 million during the quarter, compared to the consensus estimate of $675.97 million. AMC Networks had a net margin of 7.95% and a return on equity of 30.42%. The business’s quarterly revenue was down 29.6% compared to the same quarter last year. During the same period last year, the firm earned $2.52 EPS. On average, equities analysts expect that AMC Networks Inc. will post 5.7 earnings per share for the current fiscal year.

About AMC Networks

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.