State Treasurer State of Michigan Has $982,000 Stake in AMC Networks Inc (AMCX)

State Treasurer State of Michigan cut its position in AMC Networks Inc (NASDAQ:AMCX) by 7.2% in the fourth quarter, HoldingsChannel reports. The firm owned 18,150 shares of the company’s stock after selling 1,400 shares during the quarter. State Treasurer State of Michigan’s holdings in AMC Networks were worth $982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investec Asset Management LTD increased its stake in shares of AMC Networks by 45.0% in the third quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock worth $105,209,000 after purchasing an additional 558,579 shares in the last quarter. LSV Asset Management increased its stake in shares of AMC Networks by 24.9% in the fourth quarter. LSV Asset Management now owns 1,602,183 shares of the company’s stock worth $86,646,000 after purchasing an additional 319,011 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of AMC Networks by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 778,748 shares of the company’s stock worth $45,533,000 after purchasing an additional 53,278 shares in the last quarter. Northern Trust Corp increased its stake in shares of AMC Networks by 4.5% in the second quarter. Northern Trust Corp now owns 504,721 shares of the company’s stock worth $26,957,000 after purchasing an additional 21,722 shares in the last quarter. Finally, Boston Partners increased its stake in shares of AMC Networks by 2.3% in the third quarter. Boston Partners now owns 388,842 shares of the company’s stock worth $22,736,000 after purchasing an additional 8,568 shares in the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.

AMCX has been the subject of a number of analyst reports. TheStreet raised shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Thursday, December 21st. Zacks Investment Research raised shares of AMC Networks from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, January 2nd. ValuEngine raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Morgan Stanley reduced their price objective on shares of AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Finally, Jefferies Group reduced their price objective on shares of AMC Networks from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. AMC Networks has a consensus rating of “Hold” and an average price target of $62.42.

AMC Networks Inc (NASDAQ AMCX) opened at $52.58 on Friday. The firm has a market cap of $3,252.76, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.96 and a beta of 0.91. AMC Networks Inc has a 52 week low of $46.89 and a 52 week high of $67.61. The company has a debt-to-equity ratio of 37.53, a quick ratio of 2.57 and a current ratio of 2.57.

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AMC Networks Company Profile

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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

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

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