CastleKnight Management LP Acquires 180,889 Shares of AMC Networks Inc. (NASDAQ:AMCX)

CastleKnight Management LP grew its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 202.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,100 shares of the company's stock after buying an additional 180,889 shares during the quarter. CastleKnight Management LP owned 0.61% of AMC Networks worth $2,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in AMC Networks by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company's stock valued at $229,000 after acquiring an additional 2,043 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of AMC Networks during the fourth quarter valued at approximately $414,000. Arrowstreet Capital Limited Partnership bought a new position in shares of AMC Networks during the fourth quarter valued at approximately $631,000. Contrarius Group Holdings Ltd purchased a new stake in shares of AMC Networks in the fourth quarter worth approximately $5,359,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of 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 acquiring an additional 1,248,571 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

Insider Activity

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks 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 sale, the insider now owns 20,833 shares of the company's stock, valued at $144,789.35. The trade was a 88.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 25.87% of the company's stock.

Wall Street Analysts Forecast Growth

AMCX has been the subject of several research analyst reports. UBS Group decreased their target price on AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Morgan Stanley reduced their price objective on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price objective on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. 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 MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.50.

AMC Networks Stock Up 0.2 %

AMCX stock opened at $6.26 on Tuesday. The company has a market capitalization of $276.29 million, a P/E ratio of -1.19 and a beta of 1.43. The firm's fifty day simple moving average is $6.59 and its 200-day simple moving average is $8.23. AMC Networks Inc. has a 12 month low of $5.41 and a 12 month high of $18.58. 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 posted its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). The firm had revenue of $599.30 million for 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% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. As a group, equities research analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current year.

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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