BlackRock Inc. boosted its stake in Amc Networks Inc (NASDAQ:AMCX) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,028,978 shares of the company’s stock after buying an additional 825,811 shares during the period. BlackRock Inc. owned 10.73% of Amc Networks worth $342,203,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in Amc Networks by 17.0% during the fourth quarter. IFP Advisors Inc now owns 1,196 shares of the company’s stock worth $65,000 after buying an additional 174 shares during the period. Rhumbline Advisers boosted its stake in Amc Networks by 32.6% during the fourth quarter. Rhumbline Advisers now owns 125,166 shares of the company’s stock worth $6,869,000 after buying an additional 30,739 shares during the period. Creative Planning boosted its stake in Amc Networks by 61.3% during the fourth quarter. Creative Planning now owns 5,050 shares of the company’s stock worth $277,000 after buying an additional 1,920 shares during the period. Janney Montgomery Scott LLC boosted its stake in Amc Networks by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,387 shares of the company’s stock worth $1,613,000 after buying an additional 995 shares during the period. Finally, Cerity Partners LLC boosted its stake in Amc Networks by 5.1% during the fourth quarter. Cerity Partners LLC now owns 7,779 shares of the company’s stock worth $427,000 after buying an additional 379 shares during the period. 95.77% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Sean S. Sullivan sold 27,232 shares of Amc Networks stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $54.61, for a total value of $1,487,139.52. Following the completion of the transaction, the chief financial officer now owns 40,090 shares in the company, valued at $2,189,314.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.97% of the stock is owned by insiders.
NASDAQ AMCX opened at $54.42 on Thursday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 6.82. Amc Networks Inc has a one year low of $51.04 and a one year high of $69.02. The company has a market capitalization of $3.07 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87.
Amc Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.39. Amc Networks had a net margin of 14.35% and a return on equity of 152.19%. The business had revenue of $784.22 million during the quarter, compared to analyst estimates of $775.37 million. During the same quarter last year, the firm posted $2.65 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Amc Networks Inc will post 8.5 earnings per share for the current year.
Several research analysts have weighed in on AMCX shares. Imperial Capital reaffirmed an “underperform” rating and set a $53.00 target price (down previously from $56.00) on shares of Amc Networks in a research note on Friday, March 15th. BidaskClub lowered shares of Amc Networks from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 13th. Zacks Investment Research raised shares of Amc Networks from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Monday, March 4th. Gabelli reissued a “buy” rating on shares of Amc Networks in a research note on Tuesday. Finally, ValuEngine lowered shares of Amc Networks from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Amc Networks has an average rating of “Hold” and a consensus target price of $61.83.
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About Amc Networks
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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