Money Concepts Capital Corp Boosts Stock Position in AMC Networks Inc. (NASDAQ:AMCX)

Money Concepts Capital Corp raised its stake in AMC Networks Inc. (NASDAQ:AMCX) by 22.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,762 shares of the company’s stock after purchasing an additional 8,419 shares during the period. Money Concepts Capital Corp owned 0.10% of AMC Networks worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of AMCX. JPMorgan Chase & Co. grew its stake in shares of AMC Networks by 73.2% during the third 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 last quarter. Royce & Associates LP grew its stake in shares of AMC Networks by 134.0% during 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 last quarter. Readystate Asset Management LP purchased a new stake in shares of AMC Networks during the third quarter worth about $711,000. Allspring Global Investments Holdings LLC grew its stake in shares of AMC Networks by 20.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock worth $2,926,000 after acquiring an additional 57,952 shares during the last quarter. Finally, BNP Paribas Financial Markets grew 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 during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $9.42 on Friday. The business’s 50 day moving average price is $9.48 and its 200 day moving average price is $9.22. The firm has a market cap 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.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The firm had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. During the same quarter in the prior year, the firm earned $1.85 earnings per share. AMC Networks’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, sell-side analysts expect that AMC Networks Inc. will post 4.09 earnings per share for the current year.

About AMC Networks

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.