Franklin Resources Inc. Has $202,000 Position in AMC Networks Inc. (NASDAQ:AMCX)

Franklin Resources Inc. lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 37.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,190 shares of the company’s stock after buying an additional 6,340 shares during the period. Franklin Resources Inc. owned about 0.05% of AMC Networks worth $202,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMCX. Victory Capital Management Inc. boosted its position in AMC Networks by 18.7% during the second quarter. Victory Capital Management Inc. now owns 29,868 shares of the company’s stock valued at $289,000 after purchasing an additional 4,695 shares during the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of AMC Networks during the 2nd quarter worth approximately $1,569,000. Texas Permanent School Fund Corp boosted its holdings in shares of AMC Networks by 98.4% in the 2nd quarter. Texas Permanent School Fund Corp now owns 52,912 shares of the company’s stock valued at $511,000 after buying an additional 26,242 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of AMC Networks in the second quarter valued at $235,000. Finally, American Century Companies Inc. increased its holdings in AMC Networks by 6.8% during the second quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock worth $6,836,000 after buying an additional 45,266 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMCX. Morgan Stanley cut their price target 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. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two investment 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. According to data from MarketBeat.com, AMC Networks has an average rating of “Hold” and a consensus price target of $8.50.

AMC Networks Price Performance

NASDAQ:AMCX opened at $9.98 on Friday. The company has a market cap of $440.33 million, a P/E ratio of 15.84 and a beta of 1.34. The firm’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $9.31. AMC Networks Inc. has a one year low of $7.08 and a one year high of $19.44. 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 announced its quarterly earnings results on Friday, November 8th. The company reported $0.91 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 analyst estimates of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. AMC Networks’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 EPS. Equities 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.