Principal Financial Group Inc. Decreases Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Principal Financial Group Inc. reduced its stake in AMC Networks Inc. (NASDAQ:AMCX) by 88.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 21,059 shares of the company’s stock after selling 155,858 shares during the quarter. Principal Financial Group Inc.’s holdings in AMC Networks were worth $183,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of AMC Networks by 18.2% in the second 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 in the last quarter. Geode Capital Management LLC boosted its stake in AMC Networks by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 775,596 shares of the company’s stock worth $6,741,000 after purchasing an additional 31,378 shares during the period. American Century Companies Inc. grew its holdings in AMC Networks by 6.8% during the 2nd quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock valued at $6,836,000 after buying an additional 45,266 shares in the last quarter. Barclays PLC lifted its holdings in shares of AMC Networks by 8.5% in the third quarter. Barclays PLC now owns 554,837 shares of the company’s stock worth $4,821,000 after buying an additional 43,623 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its position in shares of AMC Networks by 40.8% in the second quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after acquiring an additional 154,927 shares during the period. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Down 3.9 %

Shares of NASDAQ AMCX opened at $9.58 on Wednesday. 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’s fifty day moving average is $9.29 and its 200 day moving average is $9.29. The company has a market cap of $422.68 million, a price-to-earnings ratio of 15.21 and a beta of 1.32. AMC Networks Inc. has a 52 week low of $7.08 and a 52 week high of $19.44.

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

Analyst Ratings Changes

AMCX has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.