Bridgewater Associates LP lowered its stake in Amc Networks Inc (NASDAQ:AMCX) by 67.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,503 shares of the company’s stock after selling 13,628 shares during the quarter. Bridgewater Associates LP’s holdings in Amc Networks were worth $431,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in shares of Amc Networks during the 3rd quarter valued at $109,000. First Hawaiian Bank bought a new stake in shares of Amc Networks during the 3rd quarter valued at $123,000. Advisors Preferred LLC boosted its holdings in shares of Amc Networks by 265.9% during the 2nd quarter. Advisors Preferred LLC now owns 2,009 shares of the company’s stock valued at $125,000 after buying an additional 1,460 shares in the last quarter. Bank of Hawaii bought a new stake in shares of Amc Networks during the 3rd quarter valued at $206,000. Finally, IFG Advisory LLC bought a new stake in shares of Amc Networks during the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 85.97% of the company’s stock.
AMCX opened at $58.18 on Friday. Amc Networks Inc has a 1 year low of $48.00 and a 1 year high of $69.02. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 10.69. The stock has a market capitalization of $3.23 billion, a PE ratio of 6.78, a P/E/G ratio of 0.82 and a beta of 0.84.
Amc Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, November 1st. The company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.37. Amc Networks had a return on equity of 221.77% and a net margin of 17.76%. The business had revenue of $696.87 million during the quarter, compared to analyst estimates of $693.20 million. During the same quarter in the previous year, the firm earned $1.68 EPS. Amc Networks’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Amc Networks Inc will post 8.34 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the company. Goldman Sachs Group lowered Amc Networks from a “neutral” rating to a “sell” rating and set a $61.00 price target for the company. in a research report on Thursday, October 4th. BidaskClub raised Amc Networks from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. ValuEngine raised Amc Networks from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Deutsche Bank lifted their price target on Amc Networks from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 5th. Finally, Zacks Investment Research raised Amc Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.20.
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Amc Networks Profile
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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