Allspring Global Investments Holdings LLC Boosts Position in AMC Networks Inc. $AMCX

Allspring Global Investments Holdings LLC grew its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 25.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 996,769 shares of the company’s stock after buying an additional 204,895 shares during the period. Allspring Global Investments Holdings LLC owned 2.29% of AMC Networks worth $9,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCX. SG Americas Securities LLC boosted its position in shares of AMC Networks by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 20,520 shares of the company’s stock valued at $195,000 after acquiring an additional 2,591 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in AMC Networks during the 4th quarter worth approximately $92,000. Advisory Services Network LLC purchased a new stake in AMC Networks in the 3rd quarter worth approximately $43,000. Jacobs Levy Equity Management Inc. boosted its holdings in AMC Networks by 1.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 351,198 shares of the company’s stock valued at $2,894,000 after purchasing an additional 6,417 shares during the period. Finally, Verition Fund Management LLC bought a new position in AMC Networks in the 3rd quarter valued at $90,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMCX. Seaport Research Partners cut shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Finally, Morgan Stanley raised their price target on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, AMC Networks presently has a consensus rating of “Strong Sell” and a consensus target price of $7.00.

AMC Networks Price Performance

AMCX stock opened at $7.17 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.67 and a current ratio of 1.67. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week high of $10.27. The firm’s fifty day moving average is $7.53 and its 200 day moving average is $8.12. The firm has a market cap of $306.23 million, a P/E ratio of 5.23 and a beta of 1.16.

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

Insider Activity at AMC Networks

In other news, CAO Michael J. Sherin III sold 5,963 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the completion of the sale, the chief accounting officer owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. The trade was a 35.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.62% of the company’s stock.

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.