Balyasny Asset Management L.P. Decreases Stake in AMC Networks Inc. (NASDAQ:AMCX)

Balyasny Asset Management L.P. lowered its stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 91.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,031 shares of the company's stock after selling 654,345 shares during the quarter. Balyasny Asset Management L.P. owned about 0.14% of AMC Networks worth $614,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in shares of AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after buying an additional 1,097 shares in the last quarter. Gabelli Funds LLC raised its position in shares of AMC Networks by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company's stock worth $1,325,000 after purchasing an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AMC Networks by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company's stock valued at $494,000 after buying an additional 1,589 shares in the last quarter. Rhumbline Advisers increased its stake in AMC Networks by 2.9% during the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company's stock worth $597,000 after buying an additional 1,680 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of AMC Networks by 31.3% during the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after acquiring an additional 1,918 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Trading Up 2.6%

Shares of AMCX traded up $0.16 during trading on Monday, reaching $6.39. 1,092,741 shares of the company traded hands, compared to its average volume of 987,650. The stock has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $8.12. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $18.58. The stock has a market cap of $282.03 million, a PE ratio of -1.22 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.21). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMCX. JPMorgan Chase & Co. dropped their target price on shares of AMC Networks from $8.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, May 12th. StockNews.com raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. 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. Finally, Morgan Stanley reduced their price target on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Monday, May 12th. Four analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMC Networks currently has an average rating of "Hold" and a consensus price target of $5.38.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.62% of the company's stock.

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.