Geode Capital Management LLC Increases Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Geode Capital Management LLC boosted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 775,596 shares of the company’s stock after buying an additional 31,378 shares during the period. Geode Capital Management LLC owned approximately 1.76% of AMC Networks worth $6,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP increased its stake in AMC Networks by 134.0% in the third quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock valued at $1,267,000 after acquiring an additional 83,476 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock valued at $778,000 after buying an additional 55,565 shares in the last quarter. WINTON GROUP Ltd lifted its position in AMC Networks by 361.2% in the 2nd quarter. WINTON GROUP Ltd now owns 93,486 shares of the company’s stock worth $903,000 after buying an additional 73,216 shares during the last quarter. Koss Olinger Consulting LLC purchased a new stake in AMC Networks in the second quarter worth approximately $1,569,000. Finally, Squarepoint Ops LLC grew its position in AMC Networks by 194.0% during the second quarter. Squarepoint Ops LLC now owns 124,174 shares of the company’s stock valued at $1,200,000 after acquiring an additional 81,937 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Price Performance

AMCX opened at $9.85 on Friday. The stock’s 50 day moving average price is $9.22 and its 200-day moving average price is $9.31. AMC Networks Inc. has a 52-week low of $7.08 and a 52-week high of $19.44. The stock has a market capitalization of $434.59 million, a PE ratio of 15.64 and a beta of 1.34. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The business had revenue of $599.60 million during the quarter, compared to analyst estimates of $587.12 million. During the same period in the prior year, the business earned $1.85 EPS. The company’s revenue for the quarter 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 year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports 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 report on Tuesday, November 12th. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.50.

AMC Networks 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.