Prudential Financial Inc. decreased its position in Amc Networks Inc (NASDAQ:AMCX) by 60.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,564 shares of the company’s stock after selling 92,240 shares during the period. Prudential Financial Inc.’s holdings in Amc Networks were worth $3,379,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Amc Networks by 17.0% in the fourth quarter. IFP Advisors Inc now owns 1,196 shares of the company’s stock valued at $65,000 after buying an additional 174 shares during the period. CENTRAL TRUST Co acquired a new stake in shares of Amc Networks in the fourth quarter valued at $68,000. Hanson & Doremus Investment Management lifted its holdings in shares of Amc Networks by 25.3% in 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 period. Ancora Advisors LLC acquired a new stake in shares of Amc Networks in the third quarter valued at $109,000. Finally, First Hawaiian Bank lifted its holdings in shares of Amc Networks by 18.2% in 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 period. Institutional investors and hedge funds own 86.96% of the company’s stock.
NASDAQ:AMCX opened at $59.75 on Friday. The firm has a market cap of $3.32 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 1.01 and a beta of 0.84. Amc Networks Inc has a 1-year low of $49.08 and a 1-year high of $69.02. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 9.01.
Several brokerages have recently weighed in on AMCX. Imperial Capital cut their price objective on Amc Networks from $56.00 to $53.00 and set an “underperform” rating for the company in a report on Friday. Zacks Investment Research raised Amc Networks from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Friday, February 15th. Finally, BidaskClub raised Amc Networks from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Amc Networks presently has a consensus rating of “Hold” and a consensus target price of $62.83.
In other news, EVP James Gallagher sold 7,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $62.98, for a total transaction of $440,860.00. Following the transaction, the executive vice president now owns 15,964 shares of the company’s stock, valued at approximately $1,005,412.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 20.97% of the company’s stock.
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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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