Envestnet Asset Management Inc. decreased its position in shares of Amc Networks Inc (NASDAQ:AMCX) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,723 shares of the company’s stock after selling 1,764 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Amc Networks were worth $1,129,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC raised its stake in shares of Amc Networks by 0.8% during the 1st quarter. Mason Street Advisors LLC now owns 23,786 shares of the company’s stock worth $1,350,000 after buying an additional 191 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Amc Networks by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,271 shares of the company’s stock worth $996,000 after buying an additional 256 shares during the period. California State Teachers Retirement System raised its stake in shares of Amc Networks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 69,266 shares of the company’s stock worth $3,932,000 after buying an additional 314 shares during the period. Empirical Finance LLC raised its stake in shares of Amc Networks by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 37,981 shares of the company’s stock worth $2,070,000 after buying an additional 332 shares during the period. Finally, Trust Co. of Vermont acquired a new position in shares of Amc Networks during the 2nd quarter worth approximately $27,000. 85.92% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on AMCX shares. Zacks Investment Research cut Amc Networks from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. TheStreet cut Amc Networks from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. BidaskClub upgraded Amc Networks from a “strong sell” rating to a “sell” rating in a report on Thursday. Wolfe Research upgraded Amc Networks from an “underperform” rating to a “peer perform” rating in a report on Tuesday, July 30th. Finally, ValuEngine cut Amc Networks from a “sell” rating to a “strong sell” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.20.
AMCX stock traded up $0.24 during mid-day trading on Friday, reaching $50.85. The company had a trading volume of 257,614 shares, compared to its average volume of 446,882. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.65 and a current ratio of 2.65. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.64 and a beta of 0.86. The firm has a fifty day simple moving average of $50.63 and a 200 day simple moving average of $55.62. Amc Networks Inc has a fifty-two week low of $46.31 and a fifty-two week high of $68.42.
Amc Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.65. The company had revenue of $772.30 million for the quarter, compared to analyst estimates of $783.03 million. Amc Networks had a return on equity of 127.16% and a net margin of 15.04%. Amc Networks’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 EPS. As a group, analysts predict that Amc Networks Inc will post 8.73 earnings per share for the current year.
About Amc Networks
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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