Koss Olinger Consulting LLC Buys Shares of 162,424 AMC Networks Inc. (NASDAQ:AMCX)

Koss Olinger Consulting LLC purchased a new position in AMC Networks Inc. (NASDAQ:AMCX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,424 shares of the company’s stock, valued at approximately $1,569,000. Koss Olinger Consulting LLC owned approximately 0.37% of AMC Networks at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in AMC Networks by 18.7% in the 2nd quarter. Victory Capital Management Inc. now owns 29,868 shares of the company’s stock valued at $289,000 after purchasing an additional 4,695 shares during the period. Privium Fund Management UK Ltd raised its position in shares of AMC Networks by 99.6% in the second quarter. Privium Fund Management UK Ltd now owns 91,660 shares of the company’s stock worth $862,000 after buying an additional 45,729 shares in the last quarter. Innealta Capital LLC bought a new stake in AMC Networks during the second quarter valued at $48,000. Summit Securities Group LLC purchased a new position in AMC Networks during the second quarter worth about $125,000. Finally, Allspring Global Investments Holdings LLC increased its stake in AMC Networks by 234.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock worth $2,693,000 after acquiring an additional 195,444 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Trading Down 3.4 %

Shares of AMCX stock opened at $8.99 on Friday. The business has a 50-day moving average price of $10.10 and a two-hundred day moving average price of $11.97. AMC Networks Inc. has a 12-month low of $8.84 and a 12-month high of $20.97. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17. The firm has a market cap of $391.62 million, a P/E ratio of 2.52 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last released 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 firm had revenue of $625.90 million during the quarter, compared to the consensus estimate of $601.41 million. During the same quarter in the previous year, the firm earned $2.02 EPS. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities analysts anticipate that AMC Networks Inc. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMCX shares. Wells Fargo & Company dropped their price target 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. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

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.