AMC Networks Inc. (NASDAQ:AMCX) Stake Lowered by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lowered its stake in AMC Networks Inc. (NASDAQ:AMCX) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,122 shares of the company’s stock after selling 1,139 shares during the period. Parkside Financial Bank & Trust’s holdings in AMC Networks were worth $327,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMCX. DUPONT CAPITAL MANAGEMENT Corp boosted its position in AMC Networks by 52.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 154,800 shares of the company’s stock valued at $9,084,000 after buying an additional 53,346 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in AMC Networks by 9.6% in the first quarter. Tealwood Asset Management Inc. now owns 38,989 shares of the company’s stock valued at $2,288,000 after buying an additional 3,403 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in AMC Networks by 17.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,155 shares of the company’s stock valued at $1,124,000 after buying an additional 2,903 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in AMC Networks by 24.2% in the first quarter. Clear Harbor Asset Management LLC now owns 36,975 shares of the company’s stock valued at $2,170,000 after buying an additional 7,200 shares during the last quarter. Finally, First Quadrant L P CA boosted its position in AMC Networks by 14.1% in the first quarter. First Quadrant L P CA now owns 240,797 shares of the company’s stock valued at $14,130,000 after buying an additional 29,784 shares during the last quarter. 82.81% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Inc. (NASDAQ AMCX) traded down 0.25% during trading on Friday, hitting $60.26. The stock had a trading volume of 576,534 shares. AMC Networks Inc. has a 12-month low of $46.17 and a 12-month high of $67.61. The company has a market cap of $3.83 billion, a P/E ratio of 13.17 and a beta of 1.06. The company has a 50 day moving average of $59.87 and a 200-day moving average of $57.52.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. During the same period in the prior year, the firm posted $1.15 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that AMC Networks Inc. will post $6.64 EPS for the current year.

AMC Networks declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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AMCX has been the subject of several research analyst reports. BidaskClub upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG dropped their price target on AMC Networks from $65.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, May 8th. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Thursday, July 13th. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Finally, Moffett Nathanson restated a “sell” rating on shares of AMC Networks in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. AMC Networks presently has an average rating of “Hold” and a consensus target price of $61.25.

AMC Networks Company Profile

AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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