State Street Corp Has $6.97 Million Stock Position in AMC Networks Inc. (NASDAQ:AMCX)

State Street Corp trimmed its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 36.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 801,670 shares of the company’s stock after selling 453,970 shares during the quarter. State Street Corp owned about 1.82% of AMC Networks worth $6,967,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AMCX. Quantinno Capital Management LP acquired a new stake in shares of AMC Networks during the 3rd quarter worth approximately $88,000. Quarry LP raised its stake in shares of AMC Networks by 325.2% during the third quarter. Quarry LP now owns 18,262 shares of the company’s stock valued at $159,000 after acquiring an additional 13,967 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of AMC Networks during the third quarter valued at $711,000. Point72 DIFC Ltd acquired a new position in shares of AMC Networks during the third quarter worth $235,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of AMC Networks in the third quarter valued at about $231,000. 78.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMCX shares. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley decreased 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 report on Tuesday, November 12th. Finally, Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.50.

AMC Networks Stock Performance

AMCX stock opened at $9.42 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. The firm has a market cap of $415.62 million, a PE ratio of 14.95 and a beta of 1.34. The business has a 50 day moving average of $9.01 and a 200-day moving average of $9.54. AMC Networks Inc. has a 12-month low of $7.08 and a 12-month high of $19.55.

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

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.