First Trust Advisors LP raised its position in AMC Networks Inc (NASDAQ:AMCX) by 108.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 58,035 shares of the company’s stock after acquiring an additional 30,259 shares during the period. First Trust Advisors LP owned about 0.09% of AMC Networks worth $3,139,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board bought a new stake in AMC Networks in the 4th quarter valued at approximately $696,000. RWC Asset Management LLP lifted its stake in AMC Networks by 14.5% in the 4th quarter. RWC Asset Management LLP now owns 62,067 shares of the company’s stock valued at $3,357,000 after acquiring an additional 7,843 shares in the last quarter. Accident Compensation Corp bought a new stake in AMC Networks in the 4th quarter valued at approximately $487,000. California Public Employees Retirement System lifted its stake in AMC Networks by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 157,618 shares of the company’s stock valued at $8,524,000 after acquiring an additional 14,974 shares in the last quarter. Finally, River Road Asset Management LLC bought a new stake in AMC Networks in the 4th quarter valued at approximately $13,522,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.
Several research firms have commented on AMCX. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, March 6th. Guggenheim reaffirmed a “hold” rating and set a $54.00 price target on shares of AMC Networks in a research report on Friday, March 2nd. BidaskClub lowered AMC Networks from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 4th. Finally, Cowen reaffirmed a “hold” rating and set a $63.00 price target on shares of AMC Networks in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $59.80.
AMC Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, March 1st. The company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.19. The business had revenue of $726.93 million for the quarter, compared to analyst estimates of $730.82 million. AMC Networks had a return on equity of 531.46% and a net margin of 16.80%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. analysts anticipate that AMC Networks Inc will post 8.02 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “First Trust Advisors LP Grows Holdings in AMC Networks Inc (AMCX)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.americanbankingnews.com/2018/03/14/first-trust-advisors-lp-grows-holdings-in-amc-networks-inc-amcx.html.
AMC Networks Company Profile
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
Receive News & Ratings for AMC Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks and related companies with MarketBeat.com's FREE daily email newsletter.