Allspring Global Investments Holdings LLC Raises Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 about 0.90% of AMC Networks worth $2,721,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in shares of AMC Networks during the fourth quarter valued at about $779,000. Arrowstreet Capital Limited Partnership bought a new position in AMC Networks during the 4th quarter worth approximately $631,000. Contrarius Group Holdings Ltd bought a new position in AMC Networks during the 4th quarter worth approximately $5,359,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in AMC Networks during the 4th quarter worth approximately $546,000. Finally, JPMorgan Chase & Co. grew its position in AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after acquiring an additional 1,248,571 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

Analyst Upgrades and Downgrades

AMCX has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target 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 reduced their price target 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. Wall Street Zen upgraded AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price target 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. Finally, UBS Group reduced their price target on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $5.38.

AMC Networks Trading Up 1.8%

Shares of AMCX stock traded up $0.11 during trading hours on Tuesday, reaching $6.06. The company's stock had a trading volume of 507,199 shares, compared to its average volume of 785,703. The stock has a market capitalization of $272.26 million, a P/E ratio of -1.02 and a beta of 1.36. AMC Networks Inc. has a one year low of $5.41 and a one year high of $11.57. The firm's fifty day simple moving average is $6.32 and its 200 day simple moving average is $7.39. 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 (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.21). The business had revenue of $555.23 million during the quarter, compared to the consensus estimate of $567.23 million. AMC Networks had a positive return on equity of 17.26% and a negative net margin of 10.68%. AMC Networks's quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share. Equities research analysts expect that AMC Networks Inc. will post 2.62 EPS 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.