Vanguard Group Inc. Lowers Stake in AMC Networks Inc. (AMCX)

Vanguard Group Inc. cut its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,455,552 shares of the company’s stock after selling 97,788 shares during the period. Vanguard Group Inc. owned about 6.69% of AMC Networks worth $237,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AMC Networks by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after purchasing an additional 181 shares during the period. Riverhead Capital Management LLC increased its position in shares of AMC Networks by 69.9% during the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock valued at $172,000 after purchasing an additional 1,328 shares during the period. PNC Financial Services Group Inc. increased its position in shares of AMC Networks by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after purchasing an additional 88 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of AMC Networks during the first quarter valued at approximately $194,000. Finally, World Asset Management Inc increased its position in shares of AMC Networks by 0.3% during the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Vanguard Group Inc. Lowers Stake in AMC Networks Inc. (AMCX)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://ledgergazette.com/2017/10/14/vanguard-group-inc-lowers-stake-in-amc-networks-inc-amcx.html.

A number of analysts have weighed in on the company. Guggenheim cut AMC Networks from a “buy” rating to a “neutral” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on AMC Networks in a research report on Tuesday. They issued an “outperform” rating and a $72.00 price target on the stock. Cowen and Company reiterated a “hold” rating and issued a $53.00 price target on shares of AMC Networks in a research report on Thursday, September 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price target on shares of AMC Networks in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.00.

AMC Networks Inc. (NASDAQ:AMCX) opened at 55.74 on Friday. The stock’s 50 day moving average price is $58.48 and its 200 day moving average price is $57.75. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 12.18 and a beta of 1.06.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AMC Networks by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after purchasing an additional 181 shares during the period. Riverhead Capital Management LLC increased its position in shares of AMC Networks by 69.9% during the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock valued at $172,000 after purchasing an additional 1,328 shares during the period. PNC Financial Services Group Inc. increased its position in shares of AMC Networks by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after purchasing an additional 88 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of AMC Networks during the first quarter valued at approximately $194,000. Finally, World Asset Management Inc increased its position in shares of AMC Networks by 0.3% during the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Vanguard Group Inc. Lowers Stake in AMC Networks Inc. (AMCX)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://ledgergazette.com/2017/10/14/vanguard-group-inc-lowers-stake-in-amc-networks-inc-amcx.html.

A number of analysts have weighed in on the company. Guggenheim cut AMC Networks from a “buy” rating to a “neutral” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on AMC Networks in a research report on Tuesday. They issued an “outperform” rating and a $72.00 price target on the stock. Cowen and Company reiterated a “hold” rating and issued a $53.00 price target on shares of AMC Networks in a research report on Thursday, September 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price target on shares of AMC Networks in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.00.

AMC Networks Inc. (NASDAQ:AMCX) opened at 55.74 on Friday. The stock’s 50 day moving average price is $58.48 and its 200 day moving average price is $57.75. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 12.18 and a beta of 1.06.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.47. The business had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. AMC Networks’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. On average, equities research analysts predict that AMC Networks Inc. will post $6.67 EPS for the current year.

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.

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

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