Prudential Financial Inc. trimmed its position in AMC Networks Inc. (NASDAQ:AMCX) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 289,554 shares of the company’s stock after selling 48,035 shares during the period. Prudential Financial Inc. owned approximately 0.46% of AMC Networks worth $16,931,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. bought a new stake in shares of AMC Networks in the third quarter valued at about $20,212,000. Canada Pension Plan Investment Board lifted its holdings in shares of AMC Networks by 174.0% in the third quarter. Canada Pension Plan Investment Board now owns 127,386 shares of the company’s stock valued at $7,448,000 after purchasing an additional 80,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of AMC Networks in the third quarter valued at about $218,000. Aperio Group LLC lifted its holdings in shares of AMC Networks by 111.1% in the third quarter. Aperio Group LLC now owns 38,273 shares of the company’s stock valued at $2,238,000 after purchasing an additional 20,145 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of AMC Networks in the third quarter valued at about $6,338,000. Institutional investors own 83.04% of the company’s stock.
Shares of AMC Networks Inc. (NASDAQ:AMCX) opened at $50.14 on Friday. The company has a debt-to-equity ratio of 37.53, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a market capitalization of $3,101.81, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. AMC Networks Inc. has a 52 week low of $46.89 and a 52 week high of $67.61.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.53. The firm had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. equities research analysts forecast that AMC Networks Inc. will post 7.01 EPS for the current fiscal year.
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A number of analysts have recently commented on AMCX shares. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Morgan Stanley cut their price target on AMC Networks from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 31st. Jefferies Group LLC restated a “hold” rating and issued a $65.00 price target on shares of AMC Networks in a report on Tuesday, September 12th. Loop Capital cut their price target on AMC Networks from $61.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, October 19th. Finally, Piper Jaffray Companies set a $60.00 price target on AMC Networks and gave the company a “hold” rating in a report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. AMC Networks has an average rating of “Hold” and an average price target of $59.62.
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. 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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