AMC Networks Inc. (NASDAQ:AMCX) Stake Cut by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 22.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,356 shares of the company’s stock after selling 6,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AMC Networks were worth $203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of AMC Networks by 234.5% during 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 last quarter. Summit Securities Group LLC bought a new position in AMC Networks during the 2nd quarter worth $125,000. Innealta Capital LLC acquired a new stake in AMC Networks in the second quarter worth $48,000. Privium Fund Management UK Ltd lifted its stake in AMC Networks by 99.6% in the second quarter. Privium Fund Management UK Ltd now owns 91,660 shares of the company’s stock valued at $862,000 after buying an additional 45,729 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in AMC Networks by 18.7% in the second 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 last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.50.

AMC Networks Stock Performance

Shares of AMCX opened at $9.37 on Friday. The firm has a market capitalization of $413.41 million, a PE ratio of 14.87 and a beta of 1.34. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $8.89 and a 200 day moving average price of $9.76. AMC Networks Inc. has a 52-week low of $7.08 and a 52-week high of $19.55.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. During the same period last year, the firm posted $1.85 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

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.