Harbor Capital Advisors Inc. Has $55,000 Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Harbor Capital Advisors Inc. lessened its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 60.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,997 shares of the company’s stock after selling 12,455 shares during the period. Harbor Capital Advisors Inc.’s holdings in AMC Networks were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Range Financial Group LLC grew its holdings in AMC Networks by 54.9% during the first quarter. Range Financial Group LLC now owns 26,840 shares of the company’s stock valued at $185,000 after purchasing an additional 9,509 shares during the last quarter. GAMMA Investing LLC grew its holdings in AMC Networks by 254.1% during the first quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after purchasing an additional 3,732 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in AMC Networks during the fourth quarter valued at approximately $141,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of AMC Networks in the fourth quarter valued at approximately $546,000. Finally, PharVision Advisers LLC bought a new stake in shares of AMC Networks in the fourth quarter valued at approximately $538,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Price Performance

Shares of AMC Networks stock opened at $6.24 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The firm’s 50-day simple moving average is $6.33 and its 200-day simple moving average is $7.77. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $13.50. The firm has a market cap of $280.34 million, a P/E ratio of -1.19 and a beta of 1.38.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. During the same quarter last year, the firm posted $1.16 earnings per share. AMC Networks’s revenue was down 6.9% on a year-over-year basis. As a group, research analysts expect that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMCX has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, May 12th. UBS Group decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMC Networks has an average rating of “Hold” and a consensus price target of $5.38.

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.