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

Allspring Global Investments Holdings LLC boosted its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 44.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 396,710 shares of the company's stock after acquiring an additional 121,844 shares during the period. Allspring Global Investments Holdings LLC owned 0.90% of AMC Networks worth $2,721,000 at the end of the most recent quarter.

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

AMC Networks Price Performance

AMC Networks stock traded down $0.20 during mid-day trading on Monday, reaching $5.95. 650,420 shares of the company's stock traded hands, compared to its average volume of 786,817. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $11.57. The company has a market cap of $267.33 million, a price-to-earnings ratio of -1.00 and a beta of 1.36. The stock has a 50 day moving average of $6.34 and a two-hundred day moving average of $7.42. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 2.42.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.52 EPS 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 negative net margin of 10.68% and a positive return on equity of 17.26%. The firm's revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Equities analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMCX. UBS Group lowered their price target on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley lowered their target price on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Monday, May 12th. Wall Street Zen raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AMC Networks from $8.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Four analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.38.

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.