Harbor Capital Advisors Inc. Acquires 14,038 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Harbor Capital Advisors Inc. raised its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 130.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,814 shares of the company’s stock after purchasing an additional 14,038 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in AMC Networks were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in AMC Networks in the 2nd quarter valued at $4,456,000. Dimensional Fund Advisors LP increased its holdings in shares of AMC Networks by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of AMC Networks by 234.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after purchasing an additional 195,444 shares during the period. Koss Olinger Consulting LLC bought a new position in shares of AMC Networks in the second quarter valued at about $1,569,000. Finally, Dana Investment Advisors Inc. lifted its stake in shares of AMC Networks by 40.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after buying an additional 154,927 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCX has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, AMC Networks currently has an average rating of “Hold” and a consensus price target of $9.50.

AMC Networks Stock Performance

NASDAQ AMCX opened at $8.35 on Friday. The firm has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $10.81. AMC Networks Inc. has a 12-month low of $7.08 and a 12-month high of $20.97. The company has a market capitalization of $368.24 million, a P/E ratio of 6.37 and a beta of 1.29. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The business had revenue of $625.90 million for the quarter, compared to the consensus estimate of $601.41 million. During the same period in the prior year, the business posted $2.02 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. Analysts anticipate that AMC Networks Inc. will post 4.5 earnings per share for the current year.

AMC Networks 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.