Envestnet Asset Management Inc. Grows Stake in AMC Networks Inc. (NASDAQ:AMCX)

Envestnet Asset Management Inc. boosted its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,144 shares of the company’s stock after purchasing an additional 15,396 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of AMC Networks worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMCX. Russell Investments Group Ltd. increased its holdings in AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after purchasing an additional 1,097 shares during the period. GAMMA Investing LLC increased its holdings in AMC Networks by 254.1% during the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock worth $36,000 after purchasing an additional 3,732 shares during the period. Federated Hermes Inc. increased its holdings in AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after purchasing an additional 1,918 shares during the period. Quantinno Capital Management LP increased its holdings in AMC Networks by 20.7% during the 4th quarter. Quantinno Capital Management LP now owns 12,255 shares of the company’s stock worth $121,000 after purchasing an additional 2,102 shares during the period. Finally, Bayesian Capital Management LP increased its holdings in AMC Networks by 30.0% during the 4th quarter. Bayesian Capital Management LP now owns 13,800 shares of the company’s stock worth $137,000 after purchasing an additional 3,182 shares during the period. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Stock Down 0.5%

AMC Networks stock opened at $5.98 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.26 and a quick ratio of 2.26. The stock has a market capitalization of $268.68 million, a price-to-earnings ratio of -1.01 and a beta of 1.38. AMC Networks Inc. has a 1-year low of $5.41 and a 1-year high of $10.72. The business has a fifty day moving average price of $6.25 and a 200-day moving average price of $6.93.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). The business had revenue of $555.23 million during 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 firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Equities research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. Morgan Stanley dropped their target price on AMC Networks from $6.00 to $5.50 and set an “underweight” rating on the stock in a research report on Monday, May 12th. UBS Group dropped their target price on 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 dropped their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen raised AMC Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AMC Networks currently 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.