Millennium Management LLC Has $10.04 Million Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Millennium Management LLC decreased its stake in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,695 shares of the company's stock after selling 509,709 shares during the period. Millennium Management LLC owned 2.30% of AMC Networks worth $10,036,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after purchasing an additional 1,097 shares in the last quarter. R Squared Ltd bought a new position in AMC Networks in the fourth quarter valued at approximately $59,000. Federated Hermes Inc. grew its stake in AMC Networks by 31.3% in the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after purchasing an additional 1,918 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in AMC Networks in the fourth quarter valued at approximately $106,000. Finally, Y Intercept Hong Kong Ltd bought a new position in AMC Networks in the fourth quarter valued at approximately $134,000. 78.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

AMC Networks Stock Performance

NASDAQ:AMCX traded up $0.01 during mid-day trading on Thursday, hitting $6.53. 53,897 shares of the stock were exchanged, compared to its average volume of 976,737. The stock has a market capitalization of $293.15 million, a price-to-earnings ratio of -1.24 and a beta of 1.43. The firm's 50-day simple moving average is $6.33 and its 200 day simple moving average is $8.01. 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 fifty-two week low of $5.41 and a fifty-two week high of $18.58.

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

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction that occurred 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 directly owns 20,833 shares of the company's stock, valued at approximately $144,789.35. This trade represents a 88.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.62% of the stock is currently owned by insiders.

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.