Cipher Capital LP Sells 22,239 Shares of AMC Networks Inc. (AMCX)
Cipher Capital LP lessened its stake in AMC Networks Inc. (NASDAQ:AMCX) by 28.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 56,187 shares of the company’s stock after selling 22,239 shares during the quarter. Cipher Capital LP owned 0.09% of AMC Networks worth $3,285,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of AMC Networks by 78.5% in the 3rd quarter. Macquarie Group Ltd. now owns 26,600 shares of the company’s stock valued at $1,555,000 after buying an additional 11,700 shares during the period. Quantbot Technologies LP boosted its stake in shares of AMC Networks by 257.6% in the 3rd quarter. Quantbot Technologies LP now owns 5,103 shares of the company’s stock valued at $298,000 after buying an additional 3,676 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of AMC Networks by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 778,748 shares of the company’s stock valued at $45,533,000 after buying an additional 53,278 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of AMC Networks in the 3rd quarter valued at about $3,602,000. Finally, Rhumbline Advisers boosted its stake in shares of AMC Networks by 4.5% in the 3rd quarter. Rhumbline Advisers now owns 118,629 shares of the company’s stock valued at $6,936,000 after buying an additional 5,093 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.
Several equities analysts have recently issued reports on AMCX shares. BidaskClub upgraded AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price objective (up previously from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a research note on Tuesday, September 12th. Finally, Cowen and Company reiterated a “hold” rating and issued a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $59.62.
AMC Networks Inc. (NASDAQ:AMCX) traded up $1.35 on Friday, reaching $50.14. The company’s stock had a trading volume of 1,262,764 shares, compared to its average volume of 1,178,230. The firm has a market capitalization of $3,101.81, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. AMC Networks Inc. has a 52 week low of $46.89 and a 52 week high of $67.61. The company has a debt-to-equity ratio of 37.53, a quick ratio of 2.57 and a current ratio of 2.57.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.15 by $0.53. The company had revenue of $648.00 million for 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 was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. sell-side analysts predict that AMC Networks Inc. will post 7.01 earnings per share for the current fiscal year.
About AMC Networks
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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