Principal Financial Group Inc. Has $2.18 Million Position in AMC Networks Inc. (NASDAQ:AMCX)

Principal Financial Group Inc. grew its position in AMC Networks Inc. (NASDAQ:AMCX) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,446 shares of the company’s stock after acquiring an additional 9,820 shares during the period. Principal Financial Group Inc.’s holdings in AMC Networks were worth $2,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMCX. Vanguard Group Inc. raised its position in shares of AMC Networks by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after buying an additional 30,721 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in AMC Networks by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,529,595 shares of the company’s stock valued at $28,741,000 after acquiring an additional 155,346 shares during the period. Schroder Investment Management Group increased its position in AMC Networks by 2.0% in the 4th quarter. Schroder Investment Management Group now owns 1,010,729 shares of the company’s stock valued at $18,992,000 after acquiring an additional 19,794 shares during the period. Invesco Ltd. increased its position in AMC Networks by 6.2% in the 3rd quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock valued at $6,231,000 after acquiring an additional 30,646 shares during the period. Finally, RWWM Inc. boosted its stake in shares of AMC Networks by 193.7% in the 4th quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after purchasing an additional 339,912 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Price Performance

Shares of AMCX traded up $0.06 during mid-day trading on Friday, hitting $9.69. 88,048 shares of the stock were exchanged, compared to its average volume of 1,005,007. The firm has a 50-day moving average of $13.69 and a two-hundred day moving average of $14.39. AMC Networks Inc. has a 52-week low of $8.84 and a 52-week high of $20.97. The company has a market cap of $422.10 million, a PE ratio of 2.70 and a beta of 1.30. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.85 and a current ratio of 1.85.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, May 10th. The company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). AMC Networks had a net margin of 6.09% and a return on equity of 23.57%. The business had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.74 million. During the same quarter last year, the business posted $2.62 earnings per share. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, equities analysts predict that AMC Networks Inc. will post 4.93 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.75.

Insider Buying and Selling

In other news, insider Kimberly Kelleher sold 10,941 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total value of $188,404.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AMC Networks news, EVP James Gallagher sold 25,000 shares of AMC Networks stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.54, for a total value of $388,500.00. Following the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at approximately $25,780.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kimberly Kelleher sold 10,941 shares of AMC Networks stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total value of $188,404.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,348 shares of company stock valued at $888,957. 25.87% of the stock is owned by company insiders.

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.