AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 26.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,140 shares of the company's stock after selling 357,057 shares during the period. Charles Schwab Investment Management Inc. owned about 2.22% of AMC Networks worth $8,509,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMCX. Quarry LP raised its position in AMC Networks by 119.2% in the 2nd quarter. Quarry LP now owns 4,295 shares of the company's stock valued at $41,000 after purchasing an additional 2,336 shares in the last quarter. Innealta Capital LLC acquired a new stake in AMC Networks in the second quarter valued at approximately $48,000. nVerses Capital LLC acquired a new stake in AMC Networks in the third quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. raised its holdings in AMC Networks by 75.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company's stock valued at $106,000 after acquiring an additional 4,735 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in AMC Networks in the second quarter valued at approximately $107,000. Institutional investors and hedge funds own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMCX shares. Seaport Res Ptn upgraded shares of AMC Networks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price target on AMC Networks from $10.00 to $9.00 and set an "underweight" rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded AMC Networks from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.50.

AMC Networks Stock Down 2.9 %

AMCX stock traded down $0.28 during midday trading on Wednesday, reaching $9.34. 444,460 shares of the company were exchanged, compared to its average volume of 1,032,284. The stock's 50-day simple moving average is $8.67 and its 200 day simple moving average is $10.08. AMC Networks Inc. has a 1-year low of $7.08 and a 1-year high of $20.97. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $412.09 million, a price-to-earnings ratio of 15.27 and a beta of 1.34.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced 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. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The firm had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. During the same period last year, the business earned $1.85 EPS. AMC Networks's revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts forecast that AMC Networks Inc. will post 4.09 earnings per share for the current year.

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.