Lazard Asset Management LLC Invests $671,000 in AMC Networks Inc. (NASDAQ:AMCX)

Lazard Asset Management LLC purchased 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 filing with the SEC. The firm purchased 67,786 shares of the company's stock, valued at approximately $671,000. Lazard Asset Management LLC owned about 0.15% of AMC Networks at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in AMC Networks by 333.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock valued at $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of AMC Networks in the 4th quarter worth $5,359,000. Janus Henderson Group PLC increased its holdings in shares of AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after buying an additional 297,124 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of AMC Networks by 22.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock valued at $14,505,000 after buying an additional 267,044 shares in the last quarter. Finally, RWWM Inc. lifted its holdings in shares of AMC Networks by 20.6% during the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company's stock worth $15,411,000 after acquiring an additional 266,322 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

AMC Networks Trading Down 1.1%

Shares of AMCX traded down $0.07 during trading hours on Monday, hitting $6.20. The company had a trading volume of 547,990 shares, compared to its average volume of 981,120. The firm has a market cap of $278.55 million, a P/E ratio of -1.18 and a beta of 1.43. The stock's 50 day moving average price is $6.35 and its 200 day moving average price is $8.03. 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 52-week low of $5.41 and a 52-week high of $18.58.

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

Analysts Set New Price Targets

A number of research firms recently commented on AMCX. Morgan Stanley reduced their target price on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Wells Fargo & Company reduced their price objective on AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen upgraded AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating for the company in a research note on Monday, May 12th. Finally, UBS Group decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.38.

Insider Activity

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now owns 20,833 shares in the company, valued at approximately $144,789.35. The trade was a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.62% of the company's stock.

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.