UBS Group AG increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 201.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,446 shares of the company’s stock after buying an additional 74,520 shares during the period. UBS Group AG’s holdings in AMC Networks were worth $6,539,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in AMC Networks by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,127 shares of the company’s stock worth $530,000 after buying an additional 690 shares during the last quarter. First Republic Investment Management Inc. increased its stake in AMC Networks by 32.5% in the fourth quarter. First Republic Investment Management Inc. now owns 6,961 shares of the company’s stock worth $365,000 after buying an additional 1,709 shares during the last quarter. A.R.T. Advisors LLC increased its stake in AMC Networks by 53.8% in the fourth quarter. A.R.T. Advisors LLC now owns 16,000 shares of the company’s stock worth $837,000 after buying an additional 5,600 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in AMC Networks by 0.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,374 shares of the company’s stock worth $380,000 after buying an additional 45 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in AMC Networks during the fourth quarter worth $141,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.
AMC Networks Inc. (NASDAQ AMCX) opened at 53.93 on Friday. The company has a 50-day moving average of $54.41 and a 200-day moving average of $56.15. The company has a market capitalization of $3.59 billion, a PE ratio of 13.10 and a beta of 0.96. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, May 4th. The company reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.10. AMC Networks had a net margin of 10.59% and a return on equity of 502.40%. The firm had revenue of $720.19 million for the quarter, compared to analyst estimates of $720.15 million. During the same quarter in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that AMC Networks Inc. will post $6.39 EPS for the current year.
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A number of equities research analysts have recently weighed in on AMCX shares. Zacks Investment Research downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. Deutsche Bank AG dropped their price target on shares of AMC Networks from $65.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, May 8th. Guggenheim reiterated a “buy” rating and issued a $70.00 price target on shares of AMC Networks in a research report on Tuesday, March 28th. Piper Jaffray Companies downgraded shares of AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Finally, Loop Capital reiterated a “hold” rating and issued a $56.00 price target on shares of AMC Networks in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.00.
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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