AMC Networks Inc. (NASDAQ:AMCX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,102 shares of the company’s stock after acquiring an additional 2,043 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of AMC Networks worth $229,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of AMC Networks in the 4th quarter valued at $59,000. Quantinno Capital Management LP acquired a new position in shares of AMC Networks in the 3rd quarter valued at $88,000. FORA Capital LLC acquired a new position in shares of AMC Networks in the 3rd quarter valued at $89,000. MML Investors Services LLC acquired a new position in shares of AMC Networks in the 3rd quarter valued at $91,000. Finally, Martingale Asset Management L P acquired a new position in shares of AMC Networks in the 3rd quarter valued at $95,000. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Stock Performance

Shares of AMCX opened at $7.06 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $311.60 million, a P/E ratio of -1.34 and a beta of 1.33. The company’s fifty day moving average is $8.96 and its two-hundred day moving average is $8.93. AMC Networks Inc. has a 1 year low of $6.65 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The firm had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, sell-side analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMCX shares. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Morgan Stanley dropped their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.00.

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.