Point72 Asset Management L.P. purchased a new position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,664 shares of the company's stock, valued at approximately $779,000. Point72 Asset Management L.P. owned 0.18% of AMC Networks at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of AMCX. Russell Investments Group Ltd. lifted its position in shares of AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after buying an additional 1,097 shares in the last quarter. R Squared Ltd acquired a new stake in AMC Networks in the 4th quarter worth about $59,000. Federated Hermes Inc. increased its stake 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 buying an additional 1,918 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of AMC Networks in the fourth quarter valued at approximately $106,000. Finally, Quantinno Capital Management LP boosted its stake in shares of AMC Networks by 20.7% in the fourth quarter. Quantinno Capital Management LP now owns 12,255 shares of the company's stock worth $121,000 after acquiring an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.
Insider Buying and Selling
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 stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the sale, the insider now owns 20,833 shares in the company, valued at $144,789.35. This represents a 88.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.62% of the stock is owned by insiders.
AMC Networks Trading Up 1.5%
Shares of NASDAQ:AMCX traded up $0.10 during mid-day trading on Wednesday, reaching $6.67. 83,779 shares of the company were exchanged, compared to its average volume of 976,176. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The firm's 50-day simple moving average is $6.34 and its 200 day simple moving average is $8.02. The firm has a market cap of $299.71 million, a price-to-earnings ratio of -1.27 and a beta of 1.43.
AMC Networks (NASDAQ:AMCX - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business's revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently issued reports on AMCX. Morgan Stanley dropped 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. JPMorgan Chase & Co. dropped their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, May 12th. Wall Street Zen upgraded AMC Networks from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. UBS Group lowered 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 report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their price objective on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Four analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $5.38.
Check Out Our Latest Stock Analysis on AMCX
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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