New York State Common Retirement Fund Trims Position in AMC Networks Inc. (NASDAQ:AMCX)

New York State Common Retirement Fund lessened its stake in AMC Networks Inc. (NASDAQ:AMCX) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,155 shares of the company’s stock after selling 6,150 shares during the period. New York State Common Retirement Fund owned 0.29% of AMC Networks worth $2,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP acquired a new position in AMC Networks during the third quarter worth $3,957,000. Charles Schwab Investment Management Inc. raised its stake in AMC Networks by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,374,249 shares of the company’s stock worth $16,189,000 after purchasing an additional 314,486 shares during the period. RWWM Inc. acquired a new position in AMC Networks in the third quarter valued at $2,068,000. Algert Global LLC lifted its stake in shares of AMC Networks by 29.4% in the 3rd quarter. Algert Global LLC now owns 242,239 shares of the company’s stock valued at $2,854,000 after purchasing an additional 55,070 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of AMC Networks by 101.1% in the third quarter. Trexquant Investment LP now owns 84,417 shares of the company’s stock valued at $994,000 after buying an additional 42,440 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Trading Up 1.9 %

AMCX opened at $12.76 on Wednesday. The stock has a market capitalization of $555.83 million, a PE ratio of 2.60 and a beta of 1.22. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.72 and a quick ratio of 1.72. AMC Networks Inc. has a 12-month low of $9.87 and a 12-month high of $20.97. The firm’s fifty day moving average price is $11.78 and its 200 day moving average price is $14.63.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $678.80 million for the quarter, compared to analysts’ expectations of $675.97 million. AMC Networks had a net margin of 7.95% and a return on equity of 30.42%. The company’s quarterly revenue was down 29.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.52 earnings per share. As a group, research analysts expect that AMC Networks Inc. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMCX shares. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley lowered their target price on AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Monday, February 12th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.75.

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.