UBS Group AG Reduces Holdings in AMC Networks Inc. $AMCX

Key Points

• UBS Group AG cut its AMC Networks stake by 31.1% in the fourth quarter, selling 363,586 shares and leaving it with 806,878 shares worth about $7.68 million.
• AMC Networks missed earnings expectations in its latest quarterly report, posting $0.08 EPS versus the $0.22 consensus, even as revenue came in slightly above estimates at $542.13 million.
• Analysts remain cautious on AMCX, with an average rating of “Reduce” and a median target price around $8.50; recent reports include Sell and Hold views from multiple firms.

UBS Group AG reduced its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,878 shares of the company's stock after selling 363,586 shares during the period. UBS Group AG owned about 1.85% of AMC Networks worth $7,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMCX. CWM LLC increased its stake in AMC Networks by 13.8% during the 4th quarter. CWM LLC now owns 11,858 shares of the company's stock worth $113,000 after buying an additional 1,437 shares during the period. Man Group plc lifted its holdings in AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company's stock worth $173,000 after buying an additional 1,735 shares in the last quarter. First Trust Advisors LP boosted its position in AMC Networks by 18.2% in the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company's stock valued at $99,000 after buying an additional 1,840 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of AMC Networks by 10.8% during the third quarter. Concurrent Investment Advisors LLC now owns 26,134 shares of the company's stock valued at $215,000 after acquiring an additional 2,552 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of AMC Networks by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 20,520 shares of the company's stock valued at $195,000 after acquiring an additional 2,591 shares in the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Price Performance

Shares of AMCX opened at $8.35 on Tuesday. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week high of $10.27. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. The firm has a market cap of $366.80 million, a price-to-earnings ratio of 13.92 and a beta of 1.31. The stock has a 50 day moving average of $7.75 and a 200-day moving average of $8.20.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.14). The firm had revenue of $542.13 million for the quarter, compared to analyst estimates of $540.67 million. AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. The business's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, analysts forecast that AMC Networks Inc. will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AMC Networks in a research report on Wednesday, January 21st. Morgan Stanley set a $7.00 price objective on AMC Networks in a research note on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on AMC Networks from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $8.50.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, CAO Michael J. Sherin III sold 5,963 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer owned 10,648 shares of the company's stock, valued at $84,758.08. This trade represents a 35.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 15.62% of the company's stock.

AMC Networks Company Profile

AMC Networks Inc NASDAQ: AMCX is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company's core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.

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