Clear Harbor Asset Management LLC Invests $165,000 in AMC Networks Inc. (NASDAQ:AMCX)

Clear Harbor Asset Management LLC purchased a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX) during the third quarter, Holdings Channel.com reports. The fund purchased 18,970 shares of the company’s stock, valued at approximately $165,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of AMC Networks during the 2nd quarter worth approximately $4,456,000. Dimensional Fund Advisors LP lifted its holdings 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 worth $15,703,000 after acquiring an additional 250,738 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 worth $2,693,000 after purchasing an additional 195,444 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in AMC Networks in the 2nd quarter valued at $1,569,000. Finally, Dana Investment Advisors Inc. increased its position 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 valued at $5,164,000 after purchasing an additional 154,927 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Trading Down 0.5 %

AMC Networks stock opened at $8.09 on Monday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. AMC Networks Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $20.97. The stock has a market cap of $352.42 million, a P/E ratio of 2.27 and a beta of 1.28. The firm’s fifty day moving average price is $8.72 and its 200-day moving average price is $10.96.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The business had revenue of $625.90 million during the quarter, compared to the consensus estimate of $601.41 million. During the same quarter in the prior year, the company earned $2.02 earnings per share. AMC Networks’s revenue was down 7.8% compared to the same quarter last year. Equities research analysts forecast that AMC Networks Inc. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMCX has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Two equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.50.

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.