Segall Bryant & Hamill LLC Purchases Shares of 156,067 AMC Networks Inc. $AMCX

Key Points

• Segall Bryant & Hamill LLC purchased 156,067 AMC Networks shares worth approximately $1.06 million, while institutional investors collectively own 78.51% of the company.
• Analyst sentiment remains cautious: AMC Networks has a consensus rating of “Reduce”, with two Hold ratings and two Sell ratings and an average price target of $10.50.
• AMCX shares opened at $12.03 after rising 5.5%, but the company’s latest quarter showed an adjusted loss of $0.28 per share, missed revenue estimates, and an 8.8% year-over-year revenue decline.

Segall Bryant & Hamill LLC acquired a new position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 156,067 shares of the company's stock, valued at approximately $1,060,000. Segall Bryant & Hamill LLC owned 0.36% of AMC Networks as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCX. Charles Schwab Investment Management Inc. lifted its holdings in AMC Networks by 26.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company's stock worth $21,366,000 after purchasing an additional 462,457 shares during the last quarter. Vanguard Group Inc. grew its holdings in AMC Networks by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company's stock valued at $17,881,000 after buying an additional 132,013 shares in the last quarter. Marshall Wace LLP increased its position in AMC Networks by 3.2% during the 3rd quarter. Marshall Wace LLP now owns 1,464,638 shares of the company's stock worth $12,069,000 after buying an additional 45,093 shares during the period. Allspring Global Investments Holdings LLC increased its position in AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company's stock worth $9,423,000 after buying an additional 349,373 shares during the period. Finally, UBS Group AG lifted its holdings in shares of AMC Networks by 13.2% during the third quarter. UBS Group AG now owns 1,170,464 shares of the company's stock worth $9,645,000 after buying an additional 136,771 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

Wall Street Analyst Weigh In

AMCX has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of AMC Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Zacks Research cut shares of AMC Networks from a "hold" rating to a "strong sell" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, AMC Networks currently has a consensus rating of "Reduce" and an average price target of $10.50.

AMC Networks Trading Up 5.5%

AMCX opened at $12.03 on Thursday. AMC Networks Inc. has a twelve month low of $5.68 and a twelve month high of $12.44. The company has a 50-day simple moving average of $10.09 and a 200 day simple moving average of $8.67. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $528.48 million, a price-to-earnings ratio of -14.67 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). The firm had revenue of $547.50 million for the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The company's quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Analysts predict that AMC Networks Inc. will post 2.52 EPS for the current fiscal year.

AMC Networks Profile

AMC Networks Inc NASDAQ: AMCX is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company's core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.

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