XTX Topco Ltd Lowers Position in AMC Networks Inc. $AMCX

Key Points

• XTX Topco Ltd has reduced its stake in AMC Networks by 71.7%, leaving it with 21,255 shares valued at approximately $146,000 after selling 53,798 shares in Q1.
• Despite this reduction, several other institutional investors, such as Russell Investments Group and GAMMA Investing LLC, have increased their holdings in AMC Networks, indicating a mixed sentiment among investors.
• AMC Networks recently reported earnings per share of $0.69, surpassing analysts' expectations, but experienced a 4.1% decrease in revenue year-over-year.

XTX Topco Ltd lessened its stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 71.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,255 shares of the company's stock after selling 53,798 shares during the period. XTX Topco Ltd's holdings in AMC Networks were worth $146,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock worth $35,000 after acquiring an additional 1,097 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of AMC Networks by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 133,800 shares of the company's stock valued at $1,325,000 after buying an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company's stock valued at $494,000 after purchasing an additional 1,589 shares during the last quarter. Federated Hermes Inc. grew its holdings in AMC Networks by 31.3% during the fourth 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. Finally, Quantinno Capital Management LP grew its stake in shares of AMC Networks by 20.7% in the 4th 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 in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Stock Performance

AMCX traded down $0.18 during trading hours on Monday, hitting $6.93. The stock had a trading volume of 110,062 shares, compared to its average volume of 584,623. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $10.72. The company's fifty day simple moving average is $6.27 and its 200 day simple moving average is $6.74. The stock has a market cap of $300.41 million, a PE ratio of -1.58 and a beta of 1.38. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 2.11.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.15. The company had revenue of $600.02 million for the quarter, compared to analysts' expectations of $582.99 million. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. AMC Networks's revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. Equities analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMCX shares. Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a research report on Sunday, August 10th. Morgan Stanley dropped their price target on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen raised AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, AMC Networks has a consensus rating of "Hold" and an average price target of $5.38.

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.