FORA Capital LLC Acquires Shares of 10,291 AMC Networks Inc. (NASDAQ:AMCX)

FORA Capital LLC acquired a new stake in AMC Networks Inc. (NASDAQ:AMCX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 10,291 shares of the company’s stock, valued at approximately $89,000.

A number of other hedge funds have also recently modified their holdings of AMCX. Marshall Wace LLP acquired a new position in AMC Networks in the second quarter valued at approximately $4,456,000. Dimensional Fund Advisors LP grew its position in AMC Networks by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after buying an additional 250,738 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in AMC Networks by 234.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after buying an additional 195,444 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of AMC Networks in the second quarter worth about $1,569,000. Finally, Dana Investment Advisors Inc. boosted its stake in shares of AMC Networks by 40.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after acquiring an additional 154,927 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Analysts Set New Price Targets

AMCX has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Morgan Stanley reduced their target price on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Tuesday, November 12th. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

AMC Networks Price Performance

NASDAQ:AMCX opened at $9.42 on Friday. The stock has a 50 day moving average of $8.47 and a two-hundred day moving average of $10.50. AMC Networks Inc. has a 12 month low of $7.08 and a 12 month high of $20.97. The firm has a market cap of $415.61 million, a P/E ratio of 14.95 and a beta of 1.29. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 2.03.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. The firm had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. On average, analysts expect that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

AMC Networks 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.