Verus Capital Partners LLC Invests $174,000 in AMC Networks Inc. (NASDAQ:AMCX)

Verus Capital Partners LLC acquired a new stake in AMC Networks Inc. (NASDAQ:AMCX) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,000 shares of the company’s stock, valued at approximately $174,000.

Several other institutional investors have also added to or reduced their stakes in AMCX. Entropy Technologies LP raised its position in shares of AMC Networks by 24.2% in the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock valued at $125,000 after purchasing an additional 2,800 shares during the period. Atria Investments Inc bought a new stake in AMC Networks during the 3rd quarter valued at $141,000. Harbor Capital Advisors Inc. lifted its position in shares of AMC Networks by 130.3% during the third quarter. Harbor Capital Advisors Inc. now owns 24,814 shares of the company’s stock worth $216,000 after acquiring an additional 14,038 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of AMC Networks in the third quarter worth $165,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of AMC Networks by 20.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock valued at $2,926,000 after purchasing an additional 57,952 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Price Performance

Shares of NASDAQ:AMCX opened at $9.65 on Thursday. AMC Networks Inc. has a one year low of $7.08 and a one year high of $20.97. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.13. The firm has a market capitalization of $425.57 million, a price-to-earnings ratio of 15.32 and a beta of 1.29. The company’s fifty day moving average price is $8.27 and its 200-day moving average price is $10.74.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The business had revenue of $599.60 million for the quarter, compared to analysts’ expectations of $587.12 million. During the same period last year, the business earned $1.85 earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts anticipate that AMC Networks Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley cut 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. 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. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Two 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, the stock currently has an average rating of “Hold” and a consensus price target of $8.50.

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.