Allspring Global Investments Holdings LLC Buys 10,447 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCXGet Rating) by 24.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 54,053 shares of the company’s stock after purchasing an additional 10,447 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AMC Networks were worth $1,096,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Denali Advisors LLC grew its holdings in shares of AMC Networks by 32.9% during the third quarter. Denali Advisors LLC now owns 99,820 shares of the company’s stock worth $2,026,000 after purchasing an additional 24,700 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in AMC Networks by 162.2% in the third quarter. Clear Harbor Asset Management LLC now owns 89,455 shares of the company’s stock valued at $1,816,000 after acquiring an additional 55,335 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in AMC Networks by 412.5% in the third quarter. Ronald Blue Trust Inc. now owns 902 shares of the company’s stock valued at $26,000 after acquiring an additional 726 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in AMC Networks in the third quarter valued at about $272,000. Finally, Legal & General Group Plc boosted its holdings in AMC Networks by 5.9% in the second quarter. Legal & General Group Plc now owns 95,509 shares of the company’s stock valued at $2,781,000 after acquiring an additional 5,317 shares during the last quarter. Institutional investors own 63.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMCX shares. JPMorgan Chase & Co. cut their target price on AMC Networks from $23.00 to $18.00 in a research note on Monday, November 7th. The Goldman Sachs Group decreased their price objective on AMC Networks from $28.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, November 8th. TheStreet downgraded AMC Networks from a “c” rating to a “d+” rating in a report on Monday, December 5th. Morgan Stanley decreased their price target on AMC Networks from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, December 19th. Finally, StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.25.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $17.11 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.65. AMC Networks Inc. has a 12 month low of $14.45 and a 12 month high of $44.66. The stock has a 50 day moving average of $17.97 and a 200-day moving average of $22.87. The company has a market capitalization of $735.39 million, a P/E ratio of 2.58 and a beta of 1.17.

AMC Networks (NASDAQ:AMCXGet Rating) last released its quarterly earnings results on Friday, November 4th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.10. The business had revenue of $681.84 million during the quarter, compared to analysts’ expectations of $794.53 million. AMC Networks had a return on equity of 32.06% and a net margin of 9.86%. As a group, equities research analysts predict that AMC Networks Inc. will post 7.91 EPS for the current year.

AMC Networks Company Profile

(Get Rating)

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.

Further Reading

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

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