Alliancebernstein L.P. Sells 6,087 Shares of Amc Networks Inc (NASDAQ:AMCX)

Alliancebernstein L.P. reduced its holdings in Amc Networks Inc (NASDAQ:AMCX) by 9.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 61,907 shares of the company’s stock after selling 6,087 shares during the period. Alliancebernstein L.P.’s holdings in Amc Networks were worth $1,505,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AlphaOne Investment Services LLC grew its stake in shares of Amc Networks by 44.1% in the 1st quarter. AlphaOne Investment Services LLC now owns 12,805 shares of the company’s stock worth $311,000 after buying an additional 3,917 shares in the last quarter. Accident Compensation Corp grew its stake in shares of Amc Networks by 9.0% in the 1st quarter. Accident Compensation Corp now owns 55,025 shares of the company’s stock worth $1,338,000 after buying an additional 4,521 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Amc Networks by 13,189.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 41,596 shares of the company’s stock worth $1,011,000 after buying an additional 41,283 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Amc Networks in the 1st quarter worth $4,392,000. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Amc Networks by 59.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 153,368 shares of the company’s stock worth $3,728,000 after buying an additional 56,976 shares in the last quarter. 75.64% of the stock is owned by institutional investors and hedge funds.

Amc Networks stock opened at $23.42 on Wednesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 4.35, a price-to-earnings-growth ratio of 0.58 and a beta of 0.93. The company has a debt-to-equity ratio of 4.78, a current ratio of 2.17 and a quick ratio of 2.17. Amc Networks Inc has a 1 year low of $19.62 and a 1 year high of $57.04. The firm has a 50-day moving average of $28.32 and a two-hundred day moving average of $31.12.

Amc Networks (NASDAQ:AMCX) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.60). The company had revenue of $734.40 million during the quarter, compared to analysts’ expectations of $736.27 million. Amc Networks had a net margin of 10.16% and a return on equity of 71.92%. Amc Networks’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share. Research analysts expect that Amc Networks Inc will post 5.52 earnings per share for the current year.

A number of equities analysts recently commented on the stock. Cfra raised shares of Amc Networks from a “hold” rating to a “buy” rating and dropped their price target for the stock from $31.00 to $28.00 in a research note on Tuesday, May 5th. Macquarie lifted their price target on shares of Amc Networks from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, June 19th. Goldman Sachs Group dropped their price target on shares of Amc Networks from $35.00 to $28.00 in a research note on Monday, May 25th. UBS Group dropped their price target on shares of Amc Networks from $28.00 to $23.00 and set a “sell” rating for the company in a research note on Monday, April 20th. Finally, Imperial Capital lifted their price target on shares of Amc Networks from $25.00 to $26.00 and gave the stock an “in-line” rating in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Amc Networks has an average rating of “Hold” and a consensus target price of $33.50.

Amc Networks Profile

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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Institutional Ownership by Quarter for Amc Networks (NASDAQ:AMCX)

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