Aristeia Capital L.L.C. bought a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.
Several other hedge funds and other institutional investors also recently made changes to their positions in AMCX. Russell Investments Group Ltd. lifted its holdings in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after acquiring an additional 1,097 shares during the period. R Squared Ltd purchased a new stake in shares of AMC Networks in the fourth quarter worth about $59,000. Federated Hermes Inc. increased its holdings in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock worth $80,000 after buying an additional 1,918 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in AMC Networks during the fourth quarter worth $106,000. Finally, Y Intercept Hong Kong Ltd bought a new position in AMC Networks in the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 78.51% of the company's stock.
Insider Transactions at AMC Networks
In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the sale, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 25.87% of the company's stock.
Analyst Upgrades and Downgrades
AMCX has been the topic of a number of recent analyst reports. StockNews.com cut shares of AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Morgan Stanley dropped their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their price target on AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, February 18th. Finally, UBS Group dropped their price objective on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMC Networks has an average rating of "Hold" and an average price target of $6.00.
Read Our Latest Research Report on AMCX
AMC Networks Stock Performance
Shares of AMCX traded down $0.19 during midday trading on Thursday, reaching $6.44. 247,371 shares of the stock were exchanged, compared to its average volume of 994,425. The business's 50-day moving average price is $6.56 and its 200 day moving average price is $8.21. The company has a market capitalization of $284.24 million, a price-to-earnings ratio of -1.23 and a beta of 1.43. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month 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 for the quarter, missing analysts' consensus estimates of $1.05 by ($0.41). The business had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The company's revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. On average, sell-side analysts expect that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.
About AMC Networks
(
Free Report)
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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