Principal Financial Group Inc. Sells 155,858 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Principal Financial Group Inc. decreased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 88.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,059 shares of the company’s stock after selling 155,858 shares during the period. Principal Financial Group Inc.’s holdings in AMC Networks were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in AMC Networks during the 2nd quarter valued at approximately $4,456,000. Dimensional Fund Advisors LP boosted its stake in shares of AMC Networks by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of AMC Networks by 234.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock worth $2,693,000 after buying an additional 195,444 shares during the period. Koss Olinger Consulting LLC acquired a new stake in shares of AMC Networks during the second quarter worth $1,569,000. Finally, Dana Investment Advisors Inc. raised its stake in AMC Networks by 40.8% during the second quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after buying an additional 154,927 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Stock Performance

Shares of AMCX opened at $9.30 on Tuesday. AMC Networks Inc. has a one year low of $7.08 and a one year high of $20.97. The company has a market cap of $410.32 million, a PE ratio of 14.76 and a beta of 1.29. The stock has a 50-day moving average of $8.41 and a 200-day moving average of $10.61. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32.

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

Analysts Set New Price Targets

AMCX has been the topic of a number of research analyst reports. 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. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Finally, Morgan Stanley dropped their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.50.

AMC Networks Company 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.