Bank of New York Mellon Corp lessened its holdings in shares of Amc Networks Inc (NASDAQ:AMCX) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,515 shares of the company’s stock after selling 10,791 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.07% of Amc Networks worth $33,340,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Amc Networks by 1,293.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,061 shares of the company’s stock worth $402,000 after buying an additional 5,626 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Amc Networks by 1.2% in the 3rd quarter. Wells Fargo & Company MN now owns 398,880 shares of the company’s stock valued at $26,461,000 after buying an additional 4,660 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Amc Networks by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 281,182 shares of the company’s stock valued at $18,653,000 after buying an additional 6,205 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Amc Networks by 52.9% in the 3rd quarter. Prudential Financial Inc. now owns 153,804 shares of the company’s stock valued at $10,203,000 after buying an additional 53,230 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of Amc Networks in the 3rd quarter valued at about $210,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP James Gallagher sold 7,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $62.98, for a total transaction of $440,860.00. Following the completion of the sale, the executive vice president now owns 15,964 shares of the company’s stock, valued at $1,005,412.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 20.97% of the stock is currently owned by insiders.
NASDAQ AMCX traded up $0.22 on Monday, hitting $60.27. 658,300 shares of the company’s stock traded hands, compared to its average volume of 654,428. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 9.01. Amc Networks Inc has a 1-year low of $50.70 and a 1-year high of $69.02. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.97 and a beta of 0.81.
Amc Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, February 28th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.81 by $0.11. The business had revenue of $772.85 million during the quarter, compared to analysts’ expectations of $757.41 million. Amc Networks had a net margin of 15.01% and a return on equity of 187.32%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 EPS. Analysts forecast that Amc Networks Inc will post 8.52 EPS for the current year.
About Amc Networks
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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