Caprock Group LLC Sells 6,862 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Caprock Group LLC trimmed its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 22.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,582 shares of the company’s stock after selling 6,862 shares during the quarter. Caprock Group LLC’s holdings in AMC Networks were worth $233,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMCX. Royce & Associates LP grew its holdings in shares of AMC Networks by 134.0% in the third quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after acquiring an additional 83,476 shares during the period. BNP Paribas Financial Markets increased its holdings in AMC Networks by 163.9% in the 3rd 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. JPMorgan Chase & Co. raised its stake in AMC Networks by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after acquiring an additional 158,162 shares during the period. MML Investors Services LLC purchased a new position in AMC Networks during the third quarter valued at approximately $91,000. Finally, Exchange Traded Concepts LLC lifted its holdings in AMC Networks by 6.6% during the third quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock valued at $302,000 after purchasing an additional 2,150 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMCX. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley cut their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. Finally, Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.50.

AMC Networks Stock Performance

Shares of NASDAQ:AMCX opened at $9.42 on Friday. The stock has a market capitalization of $415.61 million, a P/E ratio of 14.95 and a beta of 1.31. AMC Networks Inc. has a 52 week low of $7.08 and a 52 week high of $18.58. 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 fifty day simple moving average of $9.48 and a two-hundred day simple moving average of $9.22.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $587.12 million. During the same quarter in the previous year, the business posted $1.85 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. On average, analysts expect that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal 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.