Wealth Enhancement Advisory Services LLC Makes New $141,000 Investment in AMC Networks Inc. (NASDAQ:AMCX)

Wealth Enhancement Advisory Services LLC acquired a new position in AMC Networks Inc. (NASDAQ:AMCX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,225 shares of the company’s stock, valued at approximately $141,000.

A number of other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of AMC Networks by 1.1% in the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock worth $1,325,000 after buying an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of AMC Networks by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock worth $494,000 after buying an additional 1,589 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of AMC Networks by 2.9% in the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock worth $597,000 after buying an additional 1,680 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after buying an additional 1,918 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

NASDAQ:AMCX opened at $6.06 on Wednesday. The stock has a market cap of $272.28 million, a P/E ratio of -1.02 and a beta of 1.38. The stock has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $7.74. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 2.42. AMC Networks Inc. has a 1-year low of $5.41 and a 1-year high of $11.57.

AMC Networks (NASDAQ:AMCX) last released its quarterly 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). The firm had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. AMC Networks had a positive return on equity of 17.26% and a negative net margin of 10.68%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Research analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.