Harbor Capital Advisors Inc. Sells 4,362 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Harbor Capital Advisors Inc. lowered its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 17.6% in the fourth quarter, Holdings Channel reports. The firm owned 20,452 shares of the company’s stock after selling 4,362 shares during the period. Harbor Capital Advisors Inc.’s holdings in AMC Networks were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in shares of AMC Networks by 6.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock worth $302,000 after buying an additional 2,150 shares during the period. DGS Capital Management LLC lifted its position in AMC Networks by 9.9% during the 3rd quarter. DGS Capital Management LLC now owns 24,148 shares of the company’s stock worth $210,000 after acquiring an additional 2,180 shares during the last quarter. Quarry LP boosted its holdings in AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company’s stock valued at $41,000 after acquiring an additional 2,336 shares during the period. Entropy Technologies LP grew its position in shares of AMC Networks by 24.2% in the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock valued at $125,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of AMC Networks by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 176,830 shares of the company’s stock worth $1,537,000 after purchasing an additional 3,669 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMCX. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley cut their target price on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AMC Networks has a consensus rating of “Hold” and a consensus target price of $8.50.

AMC Networks Trading Up 5.7 %

Shares of AMCX opened at $8.93 on Wednesday. The stock’s 50-day moving average price is $9.34 and its 200 day moving average price is $9.27. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. AMC Networks Inc. has a 12-month low of $7.08 and a 12-month high of $19.39. The firm has a market capitalization of $394.00 million, a price-to-earnings ratio of 14.17 and a beta of 1.32.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $599.60 million for the quarter, compared to analysts’ expectations of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. AMC Networks’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 earnings per share. As a group, research analysts predict that AMC Networks Inc. will post 4.09 earnings per share for the current year.

AMC Networks Profile

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.