Thrivent Financial for Lutherans raised its holdings in Amc Networks Inc (NASDAQ:AMCX) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,545 shares of the company’s stock after buying an additional 463 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Amc Networks were worth $634,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc lifted its stake in shares of Amc Networks by 17.0% in the 4th quarter. IFP Advisors Inc now owns 1,196 shares of the company’s stock valued at $65,000 after purchasing an additional 174 shares during the period. CENTRAL TRUST Co purchased a new position in Amc Networks during the fourth quarter valued at $68,000. Bremer Trust National Association purchased a new position in Amc Networks during the fourth quarter valued at $85,000. Hanson & Doremus Investment Management raised its stake in Amc Networks by 25.3% during the fourth quarter. Hanson & Doremus Investment Management now owns 1,586 shares of the company’s stock valued at $87,000 after buying an additional 320 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in Amc Networks by 18.2% during the fourth quarter. First Hawaiian Bank now owns 2,198 shares of the company’s stock valued at $121,000 after buying an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Shares of AMCX stock traded down $1.10 during mid-day trading on Friday, hitting $56.26. The company’s stock had a trading volume of 759,665 shares, compared to its average volume of 648,298. The company has a debt-to-equity ratio of 9.01, a current ratio of 2.46 and a quick ratio of 2.46. Amc Networks Inc has a 52-week low of $51.04 and a 52-week high of $69.02. The stock has a market capitalization of $3.16 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.88 and a beta of 0.81.
In related news, EVP James Gallagher sold 7,000 shares of Amc Networks stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.98, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.97% of the company’s stock.
A number of brokerages have issued reports on AMCX. Zacks Investment Research upgraded Amc Networks from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, February 15th. BidaskClub cut Amc Networks from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 13th. Imperial Capital reiterated an “underperform” rating and set a $53.00 price objective (down previously from $56.00) on shares of Amc Networks in a research note on Friday, March 15th. Finally, ValuEngine cut Amc Networks from a “hold” rating to a “sell” rating in a research note on Saturday. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.83.
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Amc Networks Company Profile
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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