Nordea Investment Management AB increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 49.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,465 shares of the company’s stock after buying an additional 44,070 shares during the period. Nordea Investment Management AB’s holdings in AMC Networks were worth $8,064,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its position in AMC Networks by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 26,593 shares of the company’s stock valued at $1,727,000 after buying an additional 94 shares in the last quarter. M&T Bank Corp raised its position in AMC Networks by 2.7% in the first quarter. M&T Bank Corp now owns 5,742 shares of the company’s stock valued at $374,000 after buying an additional 151 shares in the last quarter. Creative Planning raised its position in AMC Networks by 5.9% in the second quarter. Creative Planning now owns 9,893 shares of the company’s stock valued at $598,000 after buying an additional 549 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in AMC Networks by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 155,547 shares of the company’s stock valued at $9,398,000 after buying an additional 650 shares in the last quarter. Finally, Concert Wealth Management Inc. raised its position in AMC Networks by 41.2% in the second quarter. Concert Wealth Management Inc. now owns 4,308 shares of the company’s stock valued at $265,000 after buying an additional 1,257 shares in the last quarter. Hedge funds and other institutional investors own 83.61% of the company’s stock.
Shares of AMC Networks Inc. (NASDAQ:AMCX) traded up 0.68% during midday trading on Monday, reaching $48.91. The company had a trading volume of 492,648 shares. The stock’s 50 day moving average is $52.00 and its 200-day moving average is $58.74. The stock has a market capitalization of $3.49 billion, a PE ratio of 10.18 and a beta of 0.84. AMC Networks Inc. has a 12-month low of $47.18 and a 12-month high of $83.78.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business earned $685 million during the quarter, compared to analysts’ expectations of $676.87 million. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities research analysts predict that AMC Networks Inc. will post $5.56 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Credit Agricole SA set a $89.00 price objective on AMC Networks and gave the stock a “buy” rating in a research note on Saturday, September 17th. Jefferies Group restated a “hold” rating on shares of AMC Networks in a report on Monday, September 12th. Morgan Stanley cut AMC Networks from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $78.00 to $65.00 in a report on Wednesday, June 22nd. Zacks Investment Research cut AMC Networks from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Finally, TheStreet cut AMC Networks from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. AMC Networks has an average rating of “Buy” and a consensus price target of $73.13.
AMC Networks Company Profile
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.