AMC Networks Inc. (NASDAQ:AMCX) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 44.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,710 shares of the company's stock after purchasing an additional 121,844 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.90% of AMC Networks worth $2,721,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AMCX. Atria Investments Inc lifted its stake in AMC Networks by 14.6% during the fourth quarter. Atria Investments Inc now owns 18,589 shares of the company's stock worth $184,000 after purchasing an additional 2,370 shares in the last quarter. Catalyst Funds Management Pty Ltd lifted its stake in AMC Networks by 12.2% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 23,000 shares of the company's stock worth $228,000 after purchasing an additional 2,505 shares in the last quarter. Royce & Associates LP lifted its stake in AMC Networks by 3.3% during the fourth quarter. Royce & Associates LP now owns 150,668 shares of the company's stock worth $1,492,000 after purchasing an additional 4,880 shares in the last quarter. Intech Investment Management LLC lifted its stake in AMC Networks by 41.9% during the fourth quarter. Intech Investment Management LLC now owns 14,617 shares of the company's stock worth $145,000 after purchasing an additional 4,314 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new position in AMC Networks during the fourth quarter worth $5,359,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group decreased their price target on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen raised AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Morgan Stanley cut their price objective on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Finally, Wells Fargo & Company cut their price objective on AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Four equities 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. According to data from MarketBeat, AMC Networks currently has an average rating of "Hold" and an average price target of $5.38.

AMC Networks Stock Up 0.8%

NASDAQ:AMCX traded up $0.05 during trading hours on Thursday, hitting $6.04. The company's stock had a trading volume of 477,139 shares, compared to its average volume of 784,935. The stock has a market capitalization of $271.38 million, a P/E ratio of -1.02 and a beta of 1.36. The stock has a fifty day moving average of $6.31 and a 200-day moving average of $7.37. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 2.42. AMC Networks Inc. has a 52-week low of $5.41 and a 52-week high of $11.57.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a positive return on equity of 17.26% and a negative net margin of 10.68%. The business had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. During the same quarter last year, the company posted $1.16 EPS. AMC Networks's quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current 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.