ExodusPoint Capital Management LP Sells 426,438 Shares of AMC Networks Inc. (NASDAQ:AMCX)

ExodusPoint Capital Management LP trimmed its position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,415 shares of the company's stock after selling 426,438 shares during the quarter. ExodusPoint Capital Management LP owned 0.90% of AMC Networks worth $3,915,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of AMC Networks by 333.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in AMC Networks during the fourth quarter valued at approximately $5,359,000. Arrowstreet Capital Limited Partnership bought a new position in AMC Networks during the fourth quarter worth $631,000. BNP Paribas Financial Markets increased its stake in AMC Networks by 163.9% during the third quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company's stock valued at $778,000 after purchasing an additional 55,565 shares during the last quarter. Finally, Barclays PLC grew its position in shares of AMC Networks by 8.5% during the 3rd quarter. Barclays PLC now owns 554,837 shares of the company's stock valued at $4,821,000 after buying an additional 43,623 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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. Company insiders own 25.87% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com cut AMC Networks from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Morgan Stanley reduced their price target on AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Thursday, February 20th. Finally, 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 research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $8.00.

AMC Networks Price Performance

Shares of NASDAQ:AMCX traded up $0.16 on Friday, reaching $6.01. 419,847 shares of the company traded hands, compared to its average volume of 999,825. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $265.26 million, a PE ratio of -1.14 and a beta of 1.28. The company's 50 day moving average is $7.39 and its 200-day moving average is $8.44. AMC Networks Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $18.58.

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

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.