American Century Companies Inc. Grows Stake in AMC Networks Inc. $AMCX

Key Points

• American Century Companies Inc. increased its stake in AMC Networks by 8.4%, now owning approximately 2.02% of the company with a total of 893,491 shares.
• AMC Networks reported $0.69 EPS for the last quarter, exceeding estimates of $0.54, despite a 4.1% year-over-year decline in revenue.
• The stock has received mixed ratings from analysts, with a shift from a "hold" to a "buy" rating from Wall Street Zen, while several firms maintain an "underweight" rating with projected prices as low as $5.38.

American Century Companies Inc. increased its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 893,491 shares of the company's stock after purchasing an additional 69,395 shares during the period. American Century Companies Inc. owned approximately 2.02% of AMC Networks worth $6,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMCX. Wells Fargo & Company MN boosted its holdings in AMC Networks by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 26,216 shares of the company's stock worth $260,000 after acquiring an additional 4,083 shares in the last quarter. Envestnet Asset Management Inc. increased its position in AMC Networks by 44.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 60,748 shares of the company's stock worth $601,000 after buying an additional 18,611 shares during the last quarter. Mariner LLC bought a new stake in shares of AMC Networks in the fourth quarter valued at $208,000. Hsbc Holdings PLC bought a new stake in shares of AMC Networks in the fourth quarter valued at $152,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company's stock worth $494,000 after acquiring an additional 1,589 shares during the period. Institutional investors own 78.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMCX. Wall Street Zen raised AMC Networks from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on AMC Networks from $8.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Morgan Stanley decreased their price objective on AMC Networks from $6.00 to $5.50 and set an "underweight" rating for the company in a report on Monday, May 12th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a report on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, AMC Networks presently has a consensus rating of "Reduce" and an average price target of $5.38.

AMC Networks Price Performance

Shares of NASDAQ:AMCX remained flat at $7.06 during trading on Monday. The stock had a trading volume of 364,503 shares, compared to its average volume of 747,083. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $10.63. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market cap of $306.26 million, a P/E ratio of -1.62 and a beta of 1.40. The company has a 50 day moving average of $6.40 and a two-hundred day moving average of $6.56.

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