Allspring Global Investments Holdings LLC Raises Holdings in AMC Networks Inc. $AMCX

Key Points

• Allspring Global Investments Holdings LLC increased its stake in AMC Networks Inc. by 49.4%, acquiring 195,978 additional shares in the second quarter, bringing its total holdings to approximately 1.32% of the company.
• AMC Networks reported $0.69 earnings per share (EPS) for the most recent quarter, surpassing analysts' expectations of $0.54, despite experiencing a 4.1% year-over-year decrease in revenue.
• Brokerages have mixed ratings on AMC Networks, with Zacks Research upgrading the stock to a "strong-buy" while other analysts maintain a "sell" rating, indicating a lack of consensus on the company's future performance.

Allspring Global Investments Holdings LLC grew its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 49.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 592,688 shares of the company's stock after acquiring an additional 195,978 shares during the period. Allspring Global Investments Holdings LLC owned about 1.32% of AMC Networks worth $3,639,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. CWM LLC grew its stake in shares of AMC Networks by 50.4% during the second quarter. CWM LLC now owns 5,695 shares of the company's stock valued at $36,000 after acquiring an additional 1,909 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of AMC Networks by 385.7% during the second quarter. Public Employees Retirement System of Ohio now owns 29,996 shares of the company's stock valued at $188,000 after acquiring an additional 23,820 shares in the last quarter. Range Financial Group LLC grew its stake in shares of AMC Networks by 37.9% during the second quarter. Range Financial Group LLC now owns 37,000 shares of the company's stock valued at $232,000 after acquiring an additional 10,160 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of AMC Networks by 941.3% during the first quarter. Acadian Asset Management LLC now owns 332,994 shares of the company's stock valued at $2,290,000 after acquiring an additional 301,016 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of AMC Networks by 8.5% during the first quarter. Empowered Funds LLC now owns 200,273 shares of the company's stock valued at $1,378,000 after acquiring an additional 15,738 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $7.20 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 2.11. The firm's 50-day moving average price is $7.61 and its two-hundred day moving average price is $6.71. AMC Networks Inc. has a 52-week low of $5.41 and a 52-week high of $10.60. The stock has a market capitalization of $312.36 million, a P/E ratio of -1.65 and a beta of 1.47.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.69 earnings per share (EPS) 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 firm had revenue of $600.02 million for the quarter, compared to analysts' expectations of $582.99 million. During the same quarter last year, the company posted $1.24 earnings per share. AMC Networks's revenue was down 4.1% on a year-over-year basis. AMC Networks has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMCX. Zacks Research upgraded AMC Networks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Wells Fargo & Company reiterated an "underweight" rating on shares of AMC Networks in a research note on Sunday, August 10th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of AMC Networks in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Sell rating to the company. According to MarketBeat.com, AMC Networks has an average rating of "Reduce" 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.

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