IFG Advisory LLC bought a new stake in shares of Amc Networks Inc (NASDAQ:AMCX) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,162 shares of the company’s stock, valued at approximately $209,000.
Other hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its position in Amc Networks by 46.9% during the first quarter. Millennium Management LLC now owns 52,372 shares of the company’s stock valued at $2,708,000 after buying an additional 16,719 shares during the period. Legal & General Group Plc raised its position in Amc Networks by 13.1% during the first quarter. Legal & General Group Plc now owns 68,828 shares of the company’s stock valued at $3,558,000 after buying an additional 7,974 shares during the period. Royal Bank of Canada raised its position in Amc Networks by 4.2% during the first quarter. Royal Bank of Canada now owns 83,757 shares of the company’s stock valued at $4,329,000 after buying an additional 3,345 shares during the period. State of Alaska Department of Revenue raised its position in Amc Networks by 32.4% during the second quarter. State of Alaska Department of Revenue now owns 5,970 shares of the company’s stock valued at $371,000 after buying an additional 1,460 shares during the period. Finally, Bank of Montreal Can raised its position in Amc Networks by 14.8% during the second quarter. Bank of Montreal Can now owns 362,243 shares of the company’s stock valued at $22,531,000 after buying an additional 46,677 shares during the period. 84.49% of the stock is owned by institutional investors and hedge funds.
Shares of AMCX stock opened at $59.76 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 10.69. Amc Networks Inc has a fifty-two week low of $46.89 and a fifty-two week high of $69.02. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 0.79 and a beta of 0.79.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Amc Networks from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. BidaskClub lowered Amc Networks from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered Amc Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Imperial Capital started coverage on Amc Networks in a research report on Thursday, July 19th. They issued an “in-line” rating and a $65.00 target price on the stock. Finally, Deutsche Bank upped their target price on Amc Networks from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 5th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.20.
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Amc Networks 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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