Aristeia Capital L.L.C. Purchases Shares of 67,899 AMC Networks Inc. (NASDAQ:AMCX)

Aristeia Capital L.L.C. bought a new position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 67,899 shares of the company's stock, valued at approximately $672,000. Aristeia Capital L.L.C. owned approximately 0.15% of AMC Networks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMCX. Russell Investments Group Ltd. raised its holdings in shares of AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after purchasing an additional 1,097 shares during the period. R Squared Ltd acquired a new stake in AMC Networks during the fourth quarter worth approximately $59,000. Federated Hermes Inc. grew its holdings in shares of AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock worth $80,000 after purchasing an additional 1,918 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of AMC Networks in the 4th quarter valued at approximately $106,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in AMC Networks during the fourth quarter worth $134,000. Institutional investors and hedge funds own 78.51% of the company's stock.

Insider Buying and Selling

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the sale, the insider now directly owns 20,833 shares of the company's stock, valued at approximately $144,789.35. This represents a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.87% of the stock is owned by insiders.

AMC Networks Stock Performance

AMC Networks stock opened at $6.25 on Friday. The firm has a market capitalization of $275.85 million, a PE ratio of -1.19 and a beta of 1.28. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The firm's 50 day simple moving average is $6.61 and its 200 day simple moving average is $8.24. AMC Networks Inc. has a 1-year low of $5.41 and a 1-year high of $18.58.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.41). The business had revenue of $599.30 million during the quarter, compared to analysts' expectations of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks's revenue for the quarter was down 11.7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. As a group, analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMCX shares. UBS Group reduced their price objective on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Wells Fargo & Company reduced their target price on AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AMC Networks presently has an average rating of "Hold" and an average price target of $6.50.

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.

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