67,786 Shares in AMC Networks Inc. (NASDAQ:AMCX) Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 67,786 shares of the company's stock, valued at approximately $671,000. Lazard Asset Management LLC owned 0.15% of AMC Networks as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of AMC Networks by 45.7% during the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock worth $35,000 after buying an additional 1,097 shares during the period. R Squared Ltd acquired a new stake in AMC Networks during the 4th quarter worth about $59,000. Federated Hermes Inc. grew its holdings in AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock worth $80,000 after acquiring an additional 1,918 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of AMC Networks in the 4th quarter worth about $106,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of AMC Networks in the 4th quarter worth about $134,000. Institutional investors own 78.51% of the company's stock.

AMC Networks Trading Up 1.3%

Shares of AMC Networks stock opened at $6.47 on Wednesday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week high of $18.58. The stock has a 50 day moving average price of $6.42 and a two-hundred day moving average price of $8.09. The stock has a market capitalization of $290.68 million, a PE ratio of -1.23 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced 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 negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $555.23 million for the quarter, compared to the consensus estimate of $567.23 million. During the same quarter last year, the firm posted $1.16 EPS. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMCX shares. UBS Group cut their target price 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. 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 report on Thursday, April 17th. StockNews.com raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Morgan Stanley lowered their price objective on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating for the company in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Four investment analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.38.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company's stock in a transaction on 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 completion of the sale, the insider now owns 20,833 shares in the company, valued at approximately $144,789.35. This represents a 88.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 25.87% of the stock is currently owned by company insiders.

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.

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