AMP Capital Investors Ltd decreased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 10.2% during the third quarter, Holdings Channel reports. The institutional investor owned 13,724 shares of the company’s stock after selling 1,559 shares during the period. AMP Capital Investors Ltd’s holdings in AMC Networks were worth $704,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can bought a new stake in AMC Networks during the second quarter valued at approximately $3,353,000. Tealwood Asset Management Inc. bought a new stake in AMC Networks during the second quarter valued at approximately $2,804,000. Quantitative Systematic Strategies LLC bought a new stake in AMC Networks during the second quarter valued at approximately $225,000. First Citizens Bank & Trust Co. bought a new stake in AMC Networks during the second quarter valued at approximately $260,000. Finally, Concert Wealth Management Inc. increased its stake in AMC Networks by 41.2% in the second quarter. Concert Wealth Management Inc. now owns 4,308 shares of the company’s stock valued at $265,000 after buying an additional 1,257 shares during the last quarter. 82.12% of the stock is owned by institutional investors.
AMC Networks Inc. (NASDAQ:AMCX) traded up 0.02% on Friday, reaching $55.20. The company’s stock had a trading volume of 569,842 shares. The stock’s 50 day moving average price is $55.64 and its 200 day moving average price is $53.41. The firm has a market cap of $3.89 billion, a PE ratio of 11.65 and a beta of 1.01. AMC Networks Inc. has a 52-week low of $46.17 and a 52-week high of $71.31.
Several research firms have recently commented on AMCX. Zacks Investment Research downgraded AMC Networks from a “hold” rating to a “sell” rating in a report on Monday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $56.00 price objective on shares of AMC Networks in a report on Tuesday, January 3rd. Moffett Nathanson downgraded AMC Networks from a “neutral” rating to a “sell” rating and cut their price objective for the company from $57.00 to $48.00 in a report on Wednesday, December 7th. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price objective on shares of AMC Networks in a report on Wednesday, December 7th. Finally, Albert Fried & Company reissued a “sell” rating and issued a $37.00 price objective on shares of AMC Networks in a report on Monday, November 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.88.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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