Bank of New York Mellon Corp boosted its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 778,748 shares of the company’s stock after buying an additional 53,278 shares during the period. Bank of New York Mellon Corp owned 1.23% of AMC Networks worth $45,533,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AMCX. Advisor Group Inc. increased its stake in AMC Networks by 24.4% during the 2nd quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after buying an additional 414 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AMC Networks by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after buying an additional 181 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in AMC Networks during the 2nd quarter worth approximately $153,000. Riverhead Capital Management LLC increased its stake in AMC Networks by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after buying an additional 1,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of AMC Networks by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. ValuEngine upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday. TheStreet lowered AMC Networks from a “b-” rating to a “c” rating in a research report on Tuesday, November 14th. Jefferies Group dropped their price target on AMC Networks from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. Loop Capital dropped their price target on AMC Networks from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies set a $60.00 price target on AMC Networks and gave the company a “hold” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $60.58.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.53. The company had revenue of $648.00 million during the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. analysts anticipate that AMC Networks Inc. will post 7.01 EPS for the current fiscal year.
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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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