Koss Olinger Consulting LLC Sells 106,259 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Key Points

• Koss Olinger Consulting LLC sold 106,259 shares of AMC Networks Inc., reducing its holdings by 88.6%, leaving it with 13,608 shares valued at $94,000.
• Despite the sale, several other institutional investors increased their stakes in AMC Networks, with US Bancorp DE growing its holdings by an astonishing 3,351.9% during the first quarter.
• Wall Street analysts have mixed views on AMC Networks, with ratings ranging from sell to buy, and a consensus rating of "Hold" along with an average price target of $5.38.

Koss Olinger Consulting LLC cut its holdings in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 88.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,608 shares of the company's stock after selling 106,259 shares during the period. Koss Olinger Consulting LLC's holdings in AMC Networks were worth $94,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after acquiring an additional 1,097 shares in the last quarter. GAMMA Investing LLC grew its holdings in AMC Networks by 254.1% during the first quarter. GAMMA Investing LLC now owns 5,201 shares of the company's stock valued at $36,000 after purchasing an additional 3,732 shares during the period. US Bancorp DE grew its holdings in AMC Networks by 3,351.9% during the first quarter. US Bancorp DE now owns 10,045 shares of the company's stock valued at $69,000 after purchasing an additional 9,754 shares during the period. Federated Hermes Inc. grew its holdings in AMC Networks by 31.3% during the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after purchasing an additional 1,918 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in AMC Networks during the first quarter valued at $103,000. 78.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have 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. Morgan Stanley reduced 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. UBS Group reduced their price objective on AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a report on Sunday. Finally, JPMorgan Chase & Co. reduced 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. Four equities research 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 data from MarketBeat.com, AMC Networks currently has a consensus rating of "Hold" and an average price target of $5.38.

AMC Networks Trading Up 8.8%

NASDAQ:AMCX opened at $6.53 on Monday. The company has a market cap of $293.39 million, a P/E ratio of -1.49 and a beta of 1.38. The stock's fifty day moving average price is $6.22 and its two-hundred day moving average price is $6.85. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $10.72. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.26.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.15. The firm had revenue of $600.02 million for the quarter, compared to the consensus estimate of $582.99 million. AMC Networks had a positive return on equity of 15.73% and a negative net margin of 7.42%. The business's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. As a group, 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.

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