AMC Networks Inc. (NASDAQ:AMCX) Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,866 shares of the company’s stock after selling 61,888 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.62% of AMC Networks worth $2,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in AMC Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 775,596 shares of the company’s stock worth $6,741,000 after acquiring an additional 31,378 shares in the last quarter. Barclays PLC increased its stake in AMC Networks by 8.5% in the 3rd quarter. Barclays PLC now owns 554,837 shares of the company’s stock worth $4,821,000 after purchasing an additional 43,623 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AMC Networks by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after purchasing an additional 158,162 shares in the last quarter. Empowered Funds LLC increased its stake in AMC Networks by 5.1% in the 4th quarter. Empowered Funds LLC now owns 184,535 shares of the company’s stock worth $1,827,000 after purchasing an additional 9,035 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in AMC Networks by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 176,830 shares of the company’s stock worth $1,537,000 after purchasing an additional 3,669 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Trading Down 3.9 %

NASDAQ:AMCX opened at $7.71 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.32. AMC Networks Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.58. The stock’s 50-day moving average is $9.37 and its two-hundred day moving average is $9.10. The stock has a market cap of $340.17 million, a PE ratio of -1.47 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, February 14th. The company reported $0.64 earnings per share 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 business had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. During the same period last year, the firm earned $0.72 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that AMC Networks Inc. will post 2.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMCX has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AMC Networks presently has a consensus rating of “Hold” and a consensus price target 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.