Millennium Management LLC Sells 509,709 Shares of AMC Networks Inc. (NASDAQ:AMCX)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of AMCX. Barclays PLC increased its holdings in AMC Networks by 8.5% in 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 period. Linden Thomas Advisory Services LLC boosted its stake in shares of AMC Networks by 16.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 49,278 shares of the company's stock valued at $488,000 after purchasing an additional 6,914 shares in the last quarter. R Squared Ltd acquired a new stake in shares of AMC Networks in the 4th quarter valued at $59,000. Money Concepts Capital Corp boosted its stake in shares of AMC Networks by 22.5% in the 4th quarter. Money Concepts Capital Corp now owns 45,762 shares of the company's stock valued at $453,000 after purchasing an additional 8,419 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of AMC Networks by 5.1% in the 4th quarter. Empowered Funds LLC now owns 184,535 shares of the company's stock valued at $1,827,000 after purchasing an additional 9,035 shares in the last quarter. Institutional investors own 78.51% of the company's stock.

AMC Networks Price Performance

NASDAQ AMCX traded up $0.37 on Tuesday, hitting $6.57. 582,602 shares of the company were exchanged, compared to its average volume of 979,526. The firm has a 50 day moving average of $6.35 and a two-hundred day moving average of $8.03. The company has a market cap of $295.17 million, a P/E ratio of -1.25 and a beta of 1.43. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks Inc. has a 1-year low of $5.41 and a 1-year high of $18.58.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued 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 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 firm's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. On average, equities analysts predict that AMC Networks Inc. will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group reduced 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 upgraded shares of AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company reduced 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. Finally, Morgan Stanley reduced 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. Four research analysts have rated the stock with a sell rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.38.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company's stock in a transaction dated 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 approximately $144,789.35. This represents a 88.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.62% of the company's stock.

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.