Allianz Asset Management GmbH Buys 77,207 Shares of AMC Networks Inc. $AMCX

Allianz Asset Management GmbH grew its position in AMC Networks Inc. (NASDAQ:AMCX) by 136.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,937 shares of the company’s stock after acquiring an additional 77,207 shares during the period. Allianz Asset Management GmbH owned 0.31% of AMC Networks worth $1,104,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of AMC Networks in the second quarter valued at about $25,000. Nisa Investment Advisors LLC acquired a new stake in AMC Networks in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. increased its position in AMC Networks by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after acquiring an additional 2,735 shares in the last quarter. CWM LLC raised its stake in shares of AMC Networks by 50.4% in the second quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after acquiring an additional 1,909 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of AMC Networks during the second quarter worth approximately $51,000. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Trading Up 3.0%

Shares of NASDAQ AMCX opened at $7.55 on Friday. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $10.27. The stock has a market cap of $328.65 million, a price-to-earnings ratio of 5.51 and a beta of 1.12. The company has a quick ratio of 2.12, a current ratio of 1.67 and a debt-to-equity ratio of 1.72. The company’s fifty day moving average is $8.71 and its 200-day moving average is $8.00.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The business had revenue of $594.80 million for the quarter, compared to the consensus estimate of $581.83 million. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts predict that AMC Networks Inc. will post 2.62 EPS for the current year.

Analyst Upgrades and Downgrades

AMCX has been the subject of several research analyst reports. Zacks Research upgraded shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Seaport Research Partners downgraded AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Wells Fargo & Company raised their price target on AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Morgan Stanley lifted their price objective on AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $7.00.

AMC Networks Company Profile

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.