Verus Capital Partners LLC Increases Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Verus Capital Partners LLC lifted its stake in AMC Networks Inc. (NASDAQ:AMCX) by 52.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,400 shares of the company’s stock after purchasing an additional 10,400 shares during the quarter. Verus Capital Partners LLC owned about 0.07% of AMC Networks worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMCX. Harbor Capital Advisors Inc. boosted its holdings in shares of AMC Networks by 130.3% in 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 during the period. Atria Investments Inc purchased a new position in shares of AMC Networks in the 3rd quarter worth approximately $141,000. Entropy Technologies LP boosted its holdings in shares of AMC Networks by 24.2% in the 3rd 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 period. Aigen Investment Management LP purchased a new position in shares of AMC Networks in the 3rd quarter worth approximately $117,000. Finally, Royce & Associates LP boosted its holdings in shares of AMC Networks by 134.0% in the 3rd quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after purchasing an additional 83,476 shares during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Trading Up 4.0 %

Shares of NASDAQ AMCX opened at $7.30 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. The business has a fifty day simple moving average of $9.15 and a two-hundred day simple moving average of $9.00. The firm has a market cap of $322.19 million, a PE ratio of -1.39 and a beta of 1.31. AMC Networks Inc. has a twelve month low of $6.85 and a twelve month high of $18.58.

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

Wall Street Analysts Forecast Growth

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

About AMC Networks

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.