AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 61.3% in the third quarter, Holdings Channel reports. The firm owned 10,303 shares of the company’s stock after selling 16,292 shares during the quarter. Intech Investment Management LLC’s holdings in AMC Networks were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP increased its holdings in shares of AMC Networks by 119.2% in the second quarter. Quarry LP now owns 4,295 shares of the company’s stock valued at $41,000 after purchasing an additional 2,336 shares during the period. Innealta Capital LLC purchased a new position in AMC Networks in the second quarter worth $48,000. nVerses Capital LLC purchased a new stake in shares of AMC Networks during the 3rd quarter worth $55,000. Northwestern Mutual Wealth Management Co. boosted its holdings in AMC Networks by 75.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company’s stock worth $106,000 after buying an additional 4,735 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of AMC Networks in the 2nd quarter worth approximately $107,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Stock Performance

Shares of NASDAQ:AMCX opened at $9.39 on Monday. The firm has a market capitalization of $414.29 million, a PE ratio of 14.90 and a beta of 1.34. AMC Networks Inc. has a 12 month low of $7.08 and a 12 month high of $20.97. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50-day moving average of $8.63 and a two-hundred day moving average of $10.18.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business had revenue of $599.60 million during the quarter, compared to analyst estimates of $587.12 million. During the same quarter last year, the firm earned $1.85 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts forecast that AMC Networks Inc. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lowered their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.50.

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.