Acadian Asset Management LLC Purchases 301,016 Shares of AMC Networks Inc. $AMCX

Key Points

• Acadian Asset Management LLC increased its stake in AMC Networks Inc. by 941.3%, acquiring an additional 301,016 shares during the first quarter.
• The company's latest quarterly earnings showed earnings per share (EPS) of $0.69, exceeding analyst expectations of $0.54, despite a 4.1% year-over-year decline in revenue.
• Wells Fargo & Company maintains an "underweight" rating on AMC Networks, with an average target price of $5.38, reflecting cautious sentiment among analysts.

Acadian Asset Management LLC lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 941.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,994 shares of the company's stock after purchasing an additional 301,016 shares during the quarter. Acadian Asset Management LLC owned 0.74% of AMC Networks worth $2,290,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMCX. Hsbc Holdings PLC boosted its position in shares of AMC Networks by 10.8% during the 1st quarter. Hsbc Holdings PLC now owns 17,178 shares of the company's stock worth $120,000 after acquiring an additional 1,674 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of AMC Networks by 20.7% during the fourth quarter. Quantinno Capital Management LP now owns 12,255 shares of the company's stock worth $121,000 after buying an additional 2,102 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of AMC Networks by 1.6% during the first quarter. Gabelli Funds LLC now owns 136,000 shares of the company's stock worth $936,000 after buying an additional 2,200 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AMC Networks by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 141,509 shares of the company's stock worth $974,000 after buying an additional 2,800 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of AMC Networks by 254.1% during the first quarter. GAMMA Investing LLC now owns 5,201 shares of the company's stock worth $36,000 after buying an additional 3,732 shares during the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Stock Up 0.4%

Shares of NASDAQ AMCX traded up $0.03 during trading on Friday, hitting $8.40. 1,269,963 shares of the company traded hands, compared to its average volume of 394,773. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.07 and a current ratio of 2.07. AMC Networks Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $10.60. The firm has a market capitalization of $364.39 million, a price-to-earnings ratio of -1.92 and a beta of 1.40. The business's fifty day moving average is $6.91 and its 200 day moving average is $6.59.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The company had revenue of $600.02 million for the quarter, compared to analyst estimates of $582.99 million. During the same quarter in the prior year, the business posted $1.24 EPS. The firm's revenue was down 4.1% compared to the same quarter last year. AMC Networks has set its FY 2025 guidance at EPS. Equities research analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reaffirmed an "underweight" rating on shares of AMC Networks in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $5.38.

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.