Northwestern Mutual Wealth Management Co. Boosts Stock Position in AMC Networks Inc. (NASDAQ:AMCX)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 75.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,986 shares of the company’s stock after purchasing an additional 4,735 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in AMC Networks were worth $106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Range Financial Group LLC bought a new stake in AMC Networks in the first quarter worth about $160,000. DGS Capital Management LLC purchased a new stake in AMC Networks in the first quarter worth $313,000. Allspring Global Investments Holdings LLC raised its stake in shares of AMC Networks by 20.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 83,358 shares of the company’s stock valued at $1,011,000 after buying an additional 14,295 shares during the period. Principal Financial Group Inc. lifted its position in shares of AMC Networks by 5.8% during the 1st quarter. Principal Financial Group Inc. now owns 179,446 shares of the company’s stock valued at $2,177,000 after buying an additional 9,820 shares during the last quarter. Finally, Privium Fund Management UK Ltd lifted its position in shares of AMC Networks by 129.9% during the 1st quarter. Privium Fund Management UK Ltd now owns 45,931 shares of the company’s stock valued at $544,000 after buying an additional 25,949 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Price Performance

AMCX stock opened at $7.98 on Friday. The firm has a 50 day moving average of $9.10 and a 200-day moving average of $11.23. The firm has a market capitalization of $347.62 million, a P/E ratio of 2.24 and a beta of 1.28. AMC Networks Inc. has a 12 month low of $7.08 and a 12 month high of $20.97. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The firm had revenue of $625.90 million during the quarter, compared to the consensus estimate of $601.41 million. During the same period in the previous year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, sell-side analysts predict that AMC Networks Inc. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMCX shares. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company dropped their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, AMC Networks presently has a consensus rating of “Hold” and an average target price of $11.00.

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.