PNC Financial Services Group Inc. lowered its position in AMC Networks Inc. (NASDAQ:AMCX) by 31.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,202 shares of the company’s stock after selling 2,783 shares during the period. PNC Financial Services Group Inc.’s holdings in AMC Networks were worth $376,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. I.G. Investment Management LTD. boosted its position in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock worth $108,000 after buying an additional 1,288 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in AMC Networks during the second quarter worth about $225,000. LS Investment Advisors LLC boosted its position in AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock worth $227,000 after buying an additional 1,501 shares during the last quarter. BB&T Securities LLC boosted its position in AMC Networks by 1.4% in the second quarter. BB&T Securities LLC now owns 3,779 shares of the company’s stock worth $228,000 after buying an additional 51 shares during the last quarter. Finally, Wrapmanager Inc. boosted its position in AMC Networks by 6.2% in the first quarter. Wrapmanager Inc. now owns 3,543 shares of the company’s stock worth $230,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.
AMC Networks Inc. (NASDAQ:AMCX) traded down 1.4034% during midday trading on Tuesday, reaching $51.2801. The company had a trading volume of 497,920 shares. The stock has a market capitalization of $3.66 billion, a PE ratio of 10.6767 and a beta of 0.93. AMC Networks Inc. has a 12-month low of $49.93 and a 12-month high of $83.78. The company has a 50-day moving average of $53.66 and a 200-day moving average of $60.02.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.28. The firm had revenue of $685 million for the quarter, compared to analyst estimates of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. On average, analysts predict that AMC Networks Inc. will post $5.57 EPS for the current fiscal year.
A number of research firms have issued reports on AMCX. Jefferies Group restated a “hold” rating on shares of AMC Networks in a report on Monday, September 12th. Albert Fried & Company restated a “buy” rating and set a $97.00 price target on shares of AMC Networks in a report on Wednesday, June 22nd. Zacks Investment Research cut AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, June 24th. TheStreet lowered AMC Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Loop Capital reaffirmed a “hold” rating and set a $60.00 target price on shares of AMC Networks in a research report on Tuesday, September 6th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. AMC Networks presently has a consensus rating of “Buy” and a consensus target price of $73.53.
About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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