Stone Ridge Asset Management LLC acquired a new stake in AMC Networks Inc (NASDAQ:AMCX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,925 shares of the company’s stock, valued at approximately $1,132,000.
Several other hedge funds have also made changes to their positions in AMCX. Investec Asset Management LTD increased its position in AMC Networks by 0.3% in the 4th quarter. Investec Asset Management LTD now owns 1,804,415 shares of the company’s stock valued at $97,583,000 after acquiring an additional 5,043 shares in the last quarter. LSV Asset Management boosted its stake in shares of AMC Networks by 24.9% in the 4th quarter. LSV Asset Management now owns 1,602,183 shares of the company’s stock valued at $86,646,000 after purchasing an additional 319,011 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of AMC Networks by 322.6% in the 4th quarter. Schroder Investment Management Group now owns 1,214,590 shares of the company’s stock valued at $65,685,000 after purchasing an additional 927,200 shares during the last quarter. Boston Partners boosted its stake in shares of AMC Networks by 110.6% in the 4th quarter. Boston Partners now owns 819,011 shares of the company’s stock valued at $44,292,000 after purchasing an additional 430,169 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in AMC Networks by 7.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 778,748 shares of the company’s stock worth $45,533,000 after acquiring an additional 53,278 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.
AMCX has been the topic of several recent 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 target on the stock 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 lifted their price objective on shares of AMC Networks from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Finally, Cowen reiterated a “hold” rating and issued a $63.00 price objective on shares of AMC Networks in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. AMC Networks presently has a consensus rating of “Hold” and an average target price of $59.55.
AMCX stock opened at $49.11 on Friday. AMC Networks Inc has a 52 week low of $46.89 and a 52 week high of $67.44. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 19.07. The stock has a market capitalization of $3,014.29, a P/E ratio of 6.76, a PEG ratio of 0.83 and a beta of 0.84.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, March 1st. The company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.19. The company had revenue of $726.93 million during the quarter, compared to the consensus estimate of $730.82 million. AMC Networks had a return on equity of 531.46% and a net margin of 16.80%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. analysts expect that AMC Networks Inc will post 8.13 EPS for the current fiscal 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.
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