SG Americas Securities LLC Has $450,000 Stake in AMC Networks Inc. (NASDAQ:AMCX)

Posted by MarketBeat News on Aug 6th, 2022

SG Americas Securities LLC decreased its stake in shares of AMC Networks Inc. (NASDAQ:AMCX – Get Rating) by 32.5% during the first quarter, HoldingsChannel.com reports. The fund owned 11,078 shares of the company’s stock after selling 5,330 shares during the period. SG Americas Securities LLC’s holdings in AMC Networks were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Maryland State Retirement & Pension System grew its holdings in AMC Networks by 2.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 11,823 shares of the company’s stock valued at $480,000 after buying an additional 336 shares during the last quarter. Investors Research Corp increased its stake in shares of AMC Networks by 32.0% in the 1st quarter. Investors Research Corp now owns 1,650 shares of the company’s stock valued at $67,000 after buying an additional 400 shares during the period. Jennison Associates LLC increased its stake in shares of AMC Networks by 1.6% in the 4th quarter. Jennison Associates LLC now owns 28,744 shares of the company’s stock valued at $990,000 after buying an additional 444 shares during the period. Rhumbline Advisers increased its stake in shares of AMC Networks by 0.5% in the 4th quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock valued at $2,963,000 after buying an additional 469 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of AMC Networks by 0.9% during the fourth quarter. Public Sector Pension Investment Board now owns 59,530 shares of the company’s stock worth $2,050,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $28.93 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 business has a 50-day moving average price of $31.49 and a two-hundred day moving average price of $36.32. AMC Networks Inc. has a 1-year low of $27.36 and a 1-year high of $56.04. The company has a market cap of $1.23 billion, a P/E ratio of 4.70 and a beta of 1.03.

AMC Networks (NASDAQ:AMCX – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.15 by $0.39. The company had revenue of $712.16 million during the quarter, compared to the consensus estimate of $760.80 million. AMC Networks had a return on equity of 45.15% and a net margin of 8.64%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $2.98 EPS. As a group, analysts anticipate that AMC Networks Inc. will post 8.23 EPS for the current year.

Analysts Set New Price Targets

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

AMC Networks Company 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.