AMC Networks Inc. $AMCX Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in AMC Networks Inc. (NASDAQ:AMCX) by 35.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,346,142 shares of the company’s stock after purchasing an additional 349,373 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AMC Networks were worth $9,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMCX. CWM LLC boosted its position in shares of AMC Networks by 13.8% during the 4th quarter. CWM LLC now owns 11,858 shares of the company’s stock worth $113,000 after purchasing an additional 1,437 shares during the period. Cerity Partners LLC grew its stake in shares of AMC Networks by 14.1% in the fourth quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock valued at $113,000 after buying an additional 1,473 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of AMC Networks by 6.8% in the fourth quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock valued at $252,000 after buying an additional 1,680 shares in the last quarter. Man Group plc raised its holdings in shares of AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after buying an additional 1,735 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of AMC Networks by 18.2% in the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after buying an additional 1,840 shares during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Trading Down 2.6%

Shares of AMC Networks stock opened at $10.16 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. The company has a fifty day simple moving average of $9.76 and a 200-day simple moving average of $8.55. The stock has a market cap of $446.33 million, a price-to-earnings ratio of 16.93 and a beta of 1.31. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $11.13.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The firm had revenue of $542.13 million for the quarter, compared to analyst estimates of $540.67 million. During the same period last year, the firm earned $0.52 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that AMC Networks Inc. will post 1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMCX shares. Morgan Stanley set a $7.00 target price on AMC Networks in a research report on Thursday, April 30th. Weiss Ratings raised shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

AMC Networks 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.