Shell Asset Management Co. Lowers Stake in AMC Networks Inc. (NASDAQ:AMCX)

Shell Asset Management Co. cut its position in shares of AMC Networks Inc. (NASDAQ:AMCXGet Rating) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,497 shares of the company’s stock after selling 1,554 shares during the quarter. Shell Asset Management Co.’s holdings in AMC Networks were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMCX. Strs Ohio purchased a new stake in AMC Networks in the first quarter valued at approximately $65,000. Investors Research Corp grew its holdings in AMC Networks by 32.0% in the first quarter. Investors Research Corp now owns 1,650 shares of the company’s stock valued at $67,000 after purchasing an additional 400 shares during the period. Point72 Hong Kong Ltd lifted its position in AMC Networks by 155.2% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,532 shares of the company’s stock valued at $87,000 after buying an additional 1,540 shares in the last quarter. Inspire Investing LLC acquired a new position in AMC Networks during the first quarter valued at approximately $235,000. Finally, ProShare Advisors LLC lifted its position in AMC Networks by 61.9% during the fourth quarter. ProShare Advisors LLC now owns 7,277 shares of the company’s stock valued at $251,000 after buying an additional 2,781 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Stock Up 1.7 %

Shares of NASDAQ:AMCX opened at $33.15 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 2.86. The company has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $36.41. The firm has a market cap of $1.40 billion, a PE ratio of 5.39 and a beta of 1.03. AMC Networks Inc. has a 12-month low of $27.36 and a 12-month high of $56.04.

AMC Networks (NASDAQ:AMCXGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.39. AMC Networks had a net margin of 8.64% and a return on equity of 45.15%. The business had revenue of $712.16 million during the quarter, compared to analyst estimates of $760.80 million. During the same quarter in the previous year, the firm earned $2.98 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that AMC Networks Inc. will post 8.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMCX. Moffett Nathanson reduced their price target on shares of AMC Networks to $30.00 in a research report on Friday, July 22nd. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Guggenheim reduced their price target on shares of AMC Networks from $44.00 to $35.00 in a research report on Friday, May 6th. The Goldman Sachs Group reduced their price target on shares of AMC Networks from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 26th. Finally, Morgan Stanley reduced their target price on shares of AMC Networks from $40.00 to $35.00 in a research report on Monday, July 18th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, AMC Networks currently has an average rating of “Hold” and an average target price of $34.29.

AMC Networks Profile

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AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.

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Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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