Royce & Associates LP Acquires 83,476 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Royce & Associates LP increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 134.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,788 shares of the company’s stock after purchasing an additional 83,476 shares during the period. Royce & Associates LP’s holdings in AMC Networks were worth $1,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP increased its holdings in 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 last quarter. EntryPoint Capital LLC acquired a new stake in AMC Networks during the 1st quarter worth approximately $60,000. Innealta Capital LLC bought a new stake in AMC Networks in the 2nd quarter valued at $48,000. nVerses Capital LLC acquired a new stake in AMC Networks in the 3rd quarter valued at approximately $55,000. Finally, EMC Capital Management raised its holdings in shares of AMC Networks by 23.8% in the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock valued at $95,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Down 1.2 %

Shares of NASDAQ:AMCX opened at $8.99 on Wednesday. The business’s 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $10.68. AMC Networks Inc. has a 52-week low of $7.08 and a 52-week high of $20.97. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market cap of $396.64 million, a P/E ratio of 14.27 and a beta of 1.29.

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, topping the consensus estimate of $0.62 by $0.29. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The firm had revenue of $599.60 million during the quarter, compared to analyst estimates of $587.12 million. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts forecast that AMC Networks Inc. will post 4.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

AMC Networks Company Profile

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.