Quantinno Capital Management LP Takes Position in AMC Networks Inc. (NASDAQ:AMCX)

Quantinno Capital Management LP acquired a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) in the third quarter, HoldingsChannel reports. The fund acquired 10,153 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of AMC Networks by 234.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock worth $2,693,000 after buying an additional 195,444 shares during the period. Summit Securities Group LLC bought a new stake in AMC Networks in the second quarter valued at approximately $125,000. Innealta Capital LLC acquired a new stake in AMC Networks in the second quarter worth $48,000. Privium Fund Management UK Ltd boosted its position in shares of AMC Networks by 99.6% during the second quarter. Privium Fund Management UK Ltd now owns 91,660 shares of the company’s stock worth $862,000 after purchasing an additional 45,729 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of AMC Networks by 18.7% in the 2nd quarter. Victory Capital Management Inc. now owns 29,868 shares of the company’s stock valued at $289,000 after buying an additional 4,695 shares during the period. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $9.74 on Wednesday. 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 firm has a market cap of $429.74 million, a price-to-earnings ratio of 15.46 and a beta of 1.34. The stock’s 50-day moving average is $8.78 and its 200-day moving average is $9.89. AMC Networks Inc. has a one year low of $7.08 and a one year high of $20.93.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $599.60 million during the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 EPS. Equities analysts predict that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley cut their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.