Bank of America Corp DE cut its stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,822 shares of the company's stock after selling 79,649 shares during the period. Bank of America Corp DE owned 0.25% of AMC Networks worth $1,087,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Aristeia Capital L.L.C. acquired a new stake in AMC Networks during the fourth quarter worth approximately $672,000. Gallagher Fiduciary Advisors LLC raised its position in AMC Networks by 17.4% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 18,659 shares of the company's stock valued at $185,000 after purchasing an additional 2,770 shares in the last quarter. PDT Partners LLC acquired a new position in AMC Networks during the fourth quarter valued at approximately $323,000. AQR Capital Management LLC raised its position in AMC Networks by 30.2% during the fourth quarter. AQR Capital Management LLC now owns 765,298 shares of the company's stock valued at $7,576,000 after purchasing an additional 177,368 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in AMC Networks by 430.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 128,326 shares of the company's stock valued at $1,270,000 after purchasing an additional 104,115 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.
AMC Networks Trading Down 1.8%
Shares of AMC Networks stock traded down $0.12 during trading on Friday, hitting $6.48. The company's stock had a trading volume of 359,601 shares, compared to its average volume of 980,764. 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 Inc. has a 52 week low of $5.41 and a 52 week high of $17.50. The stock has a market cap of $291.13 million, a price-to-earnings ratio of -1.23 and a beta of 1.38. The stock has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $7.88.
AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $555.23 million during the quarter, compared to the consensus estimate of $567.23 million. During the same period in the prior year, the firm earned $1.16 EPS. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research analysts anticipate that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on AMCX. JPMorgan Chase & Co. decreased 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. UBS Group decreased their target price 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. Wall Street Zen raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Morgan Stanley decreased their target price on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Finally, Wells Fargo & Company decreased their target price on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Four analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.38.
Read Our Latest Stock Report on AMCX
Insider Buying and Selling
In related 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.62% of the stock is currently owned by insiders.
About AMC Networks
(
Free Report)
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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