State Street Corp Sells 453,970 Shares of AMC Networks Inc. (NASDAQ:AMCX)

State Street Corp reduced its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 36.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 801,670 shares of the company’s stock after selling 453,970 shares during the quarter. State Street Corp’s holdings in AMC Networks were worth $6,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royce & Associates LP lifted its stake in AMC Networks by 134.0% in the 3rd quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after purchasing an additional 83,476 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of AMC Networks by 163.9% during the third quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after acquiring an additional 55,565 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of AMC Networks by 361.2% in the 2nd quarter. WINTON GROUP Ltd now owns 93,486 shares of the company’s stock worth $903,000 after acquiring an additional 73,216 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of AMC Networks during the second quarter valued at about $1,569,000. Finally, Squarepoint Ops LLC increased its holdings in shares of AMC Networks by 194.0% in the second quarter. Squarepoint Ops LLC now owns 124,174 shares of the company’s stock worth $1,200,000 after buying an additional 81,937 shares during the period. 78.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

AMC Networks Price Performance

Shares of AMC Networks stock opened at $9.42 on Friday. The stock’s fifty day moving average is $9.01 and its 200 day moving average is $9.54. The stock has a market cap of $415.62 million, a P/E ratio of 14.95 and a beta of 1.34. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32. AMC Networks Inc. has a one year low of $7.08 and a one year high of $19.55.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.62 by $0.29. The business had revenue of $599.60 million for the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. Sell-side analysts anticipate that AMC Networks Inc. will post 4.09 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.