Arrowstreet Capital Limited Partnership Acquires New Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Arrowstreet Capital Limited Partnership purchased a new position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 63,698 shares of the company's stock, valued at approximately $631,000. Arrowstreet Capital Limited Partnership owned approximately 0.14% of AMC Networks as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after buying an additional 1,248,571 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in AMC Networks by 4.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 248,691 shares of the company's stock worth $2,462,000 after purchasing an additional 9,838 shares during the period. Vanguard Group Inc. increased its stake in AMC Networks by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,715,833 shares of the company's stock valued at $16,987,000 after purchasing an additional 39,581 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of AMC Networks by 3.4% during the fourth quarter. American Century Companies Inc. now owns 824,096 shares of the company's stock worth $8,159,000 after purchasing an additional 27,273 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new position in shares of AMC Networks in the 4th quarter worth about $5,359,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Price Performance

Shares of AMC Networks stock traded up $0.04 on Thursday, hitting $6.02. The company had a trading volume of 44,623 shares, compared to its average volume of 997,062. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week high of $18.58. The company has a market cap of $265.61 million, a PE ratio of -1.13 and a beta of 1.28. The business has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $8.40. 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 (NASDAQ:AMCX - Get Free Report) last released its earnings results on Friday, February 14th. The company reported $0.64 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 the consensus estimate of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Research analysts expect that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Insider Activity at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 20,833 shares in the company, valued at $144,789.35. The trade was a 88.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 25.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMCX shares. UBS Group decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a report on Tuesday. Morgan Stanley decreased their target price on AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price target on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.50.

AMC Networks 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.