AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 315,867 shares of the company’s stock after selling 19,740 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of AMC Networks worth $3,051,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of AMC Networks by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,529,595 shares of the company’s stock valued at $28,741,000 after purchasing an additional 155,346 shares during the period. Schroder Investment Management Group boosted its position in shares of AMC Networks by 2.0% in the 4th quarter. Schroder Investment Management Group now owns 1,010,729 shares of the company’s stock valued at $18,992,000 after purchasing an additional 19,794 shares during the period. RWWM Inc. boosted its position in shares of AMC Networks by 193.7% in the 4th quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after purchasing an additional 339,912 shares during the period. Principal Financial Group Inc. boosted its position in shares of AMC Networks by 5.8% in the 1st quarter. Principal Financial Group Inc. now owns 179,446 shares of the company’s stock valued at $2,177,000 after purchasing an additional 9,820 shares during the period. Finally, Empowered Funds LLC acquired a new stake 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.

Analyst Upgrades and Downgrades

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

AMC Networks Stock Up 5.3 %

AMCX opened at $8.69 on Monday. The business has a 50 day moving average price of $9.96 and a two-hundred day moving average price of $11.80. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17. The company has a market cap of $378.55 million, a PE ratio of 2.43 and a beta of 1.29. AMC Networks Inc. has a 52 week low of $7.51 and a 52 week high of $20.97.

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

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.