Goldman Sachs Group Inc. Lowers Holdings in AMC Networks Inc. $AMCX

Key Points

• Goldman Sachs Group Inc. reduced its stake in AMC Networks Inc. by 81.2%, leaving it with 101,340 shares worth approximately $697,000.
• Multiple hedge funds have recently altered their holdings in AMC Networks, with US Bancorp DE significantly increasing its stake by 3,351.9% during the first quarter.
• Wells Fargo & Company has an "underweight" rating for AMC Networks, while the stock currently has a consensus rating of "Reduce" with a price target of $5.38.

Goldman Sachs Group Inc. reduced its stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 81.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,340 shares of the company's stock after selling 436,739 shares during the quarter. Goldman Sachs Group Inc. owned about 0.23% of AMC Networks worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of AMCX. Quantbot Technologies LP bought a new position in shares of AMC Networks during the first quarter worth $31,000. GAMMA Investing LLC increased its holdings in AMC Networks by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company's stock valued at $36,000 after acquiring an additional 3,732 shares during the last quarter. US Bancorp DE lifted its stake in AMC Networks by 3,351.9% in the 1st quarter. US Bancorp DE now owns 10,045 shares of the company's stock worth $69,000 after purchasing an additional 9,754 shares in the last quarter. Algert Global LLC purchased a new position in shares of AMC Networks during the first quarter valued at about $73,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of AMC Networks in the first quarter worth about $103,000. Hedge funds and other institutional investors own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $5.38.

AMC Networks Trading Up 1.9%

Shares of AMCX stock opened at $8.08 on Thursday. The company has a market cap of $350.51 million, a PE ratio of -1.85 and a beta of 1.40. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $10.60. The stock's 50 day simple moving average is $7.02 and its two-hundred day simple moving average is $6.61. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.07.

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

AMC Networks Company 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.

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