Principal Financial Group Inc. Has $183,000 Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Principal Financial Group Inc. reduced its holdings in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 88.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,059 shares of the company's stock after selling 155,858 shares during the period. Principal Financial Group Inc.'s holdings in AMC Networks were worth $183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AMCX. Price T Rowe Associates Inc. MD grew its stake in AMC Networks by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company's stock valued at $520,000 after purchasing an additional 1,434 shares in the last quarter. EMC Capital Management increased its holdings in AMC Networks by 23.8% in the first quarter. EMC Capital Management now owns 7,792 shares of the company's stock worth $95,000 after buying an additional 1,500 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in AMC Networks by 6.6% in the third quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company's stock worth $302,000 after buying an additional 2,150 shares during the last quarter. Quarry LP raised its position in AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company's stock valued at $41,000 after acquiring an additional 2,336 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in AMC Networks by 10.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 35,841 shares of the company's stock valued at $346,000 after acquiring an additional 3,322 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMCX. Wells Fargo & Company cut their price target 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. Seaport Res Ptn raised AMC Networks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered their price objective on AMC Networks from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com upgraded AMC Networks from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Two research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.50.

AMC Networks Stock Performance

NASDAQ:AMCX traded down $0.14 during mid-day trading on Tuesday, hitting $9.16. 592,252 shares of the company's stock traded hands, compared to its average volume of 1,056,830. The firm has a market capitalization of $404.14 million, a price-to-earnings ratio of 14.56 and a beta of 1.29. The firm has a 50 day moving average of $8.42 and a two-hundred day moving average of $10.58. 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 Inc. has a 12 month low of $7.08 and a 12 month high of $20.97.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.29. The business had revenue of $599.60 million for the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. AMC Networks's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. On average, equities analysts forecast that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal 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.