JPMorgan Chase & Co. lowered its position in AMC Networks Inc. (NASDAQ:AMCX) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,832 shares of the company’s stock after selling 1,444 shares during the period. JPMorgan Chase & Co. owned about 0.09% of AMC Networks worth $3,796,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. I.G. Investment Management LTD. increased its stake in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock worth $108,000 after buying an additional 1,288 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in AMC Networks during the second quarter worth approximately $225,000. LS Investment Advisors LLC increased its stake in AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock worth $227,000 after buying an additional 1,501 shares in the last quarter. BB&T Securities LLC increased its stake in AMC Networks by 1.4% in the second quarter. BB&T Securities LLC now owns 3,779 shares of the company’s stock worth $228,000 after buying an additional 51 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in AMC Networks during the second quarter worth approximately $260,000. 83.61% of the stock is currently owned by hedge funds and other institutional investors.
AMC Networks Inc. (NASDAQ:AMCX) traded down 0.12% during midday trading on Monday, reaching $48.52. 21,133 shares of the company were exchanged. AMC Networks Inc. has a one year low of $47.18 and a one year high of $83.78. The firm’s 50-day moving average is $52.00 and its 200-day moving average is $58.74. The firm has a market cap of $3.46 billion, a P/E ratio of 10.10 and a beta of 0.84.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.28 EPS for the quarter, hitting the consensus estimate of $1.28. The business earned $685 million during the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. On average, equities analysts expect that AMC Networks Inc. will post $5.56 EPS for the current fiscal year.
AMCX has been the topic of a number of research analyst reports. Goldman Sachs Group Inc. decreased their price objective on shares of AMC Networks from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Albert Fried & Company reaffirmed a “buy” rating on shares of AMC Networks in a report on Tuesday, July 12th. Stifel Nicolaus reduced their price target on shares of AMC Networks from $89.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Credit Agricole SA set a $89.00 price target on shares of AMC Networks and gave the company a “buy” rating in a report on Saturday, September 17th. Finally, Nomura reduced their price target on shares of AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $73.13.
About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.