Allspring Global Investments Holdings LLC Raises Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Allspring Global Investments Holdings LLC grew its stake in AMC Networks Inc. (NASDAQ:AMCX) by 20.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 336,754 shares of the company’s stock after buying an additional 57,952 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AMC Networks were worth $2,926,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AMCX. Marshall Wace LLP acquired a new position in shares of AMC Networks during the second quarter worth $4,456,000. Dimensional Fund Advisors LP lifted its holdings in AMC Networks by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock worth $15,703,000 after buying an additional 250,738 shares during the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of AMC Networks during the 2nd quarter worth about $1,569,000. Dana Investment Advisors Inc. increased its holdings in shares of AMC Networks by 40.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after acquiring an additional 154,927 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of AMC Networks in the 1st quarter valued at about $1,877,000. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Stock Down 0.7 %

Shares of NASDAQ AMCX opened at $8.20 on Wednesday. The business has a 50-day moving average price of $8.64 and a 200 day moving average price of $10.92. The stock has a market cap of $357.21 million, a PE ratio of 2.30 and a beta of 1.28. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17. AMC Networks Inc. has a 52-week low of $7.08 and a 52-week high of $20.97.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, August 9th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). The business had revenue of $625.90 million for the quarter, compared to analysts’ expectations of $601.41 million. AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business posted $2.02 earnings per share. Equities research analysts forecast that AMC Networks Inc. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMCX. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company reduced their price objective on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Finally, Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.