Concurrent Investment Advisors LLC Invests $106,000 in AMC Networks Inc. (NASDAQ:AMCX)

Concurrent Investment Advisors LLC bought a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,692 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds have also recently bought and sold shares of AMCX. Allspring Global Investments Holdings LLC raised its stake in shares of AMC Networks by 20.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock valued at $2,926,000 after buying an additional 57,952 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of AMC Networks by 130.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,814 shares of the company’s stock worth $216,000 after purchasing an additional 14,038 shares in the last quarter. Atria Investments Inc bought a new stake in AMC Networks during the 3rd quarter worth approximately $141,000. Entropy Technologies LP grew its holdings in shares of AMC Networks by 24.2% during the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock worth $125,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new stake in AMC Networks in the 3rd quarter valued at about $174,000. 78.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AMCX shares. JPMorgan Chase & Co. decreased their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley cut their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Finally, StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMC Networks currently has an average rating of “Hold” and an average price target of $8.00.

AMC Networks Trading Down 2.9 %

Shares of NASDAQ:AMCX opened at $7.27 on Thursday. The firm has a market cap of $321.05 million, a price-to-earnings ratio of -1.39 and a beta of 1.31. AMC Networks Inc. has a 12 month low of $7.08 and a 12 month high of $18.58. The company’s fifty day simple moving average is $9.24 and its 200 day simple moving average is $9.04. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). The firm had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. As a group, research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.