XTX Topco Ltd Reduces Stock Holdings in AMC Networks Inc. (NASDAQ: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 trimmed its position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 71.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 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. GAMMA Investing LLC lifted its position in shares of AMC Networks by 254.1% during the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company's stock valued at $36,000 after buying an additional 3,732 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after buying an additional 1,918 shares in the last quarter. Quantinno Capital Management LP raised its stake in AMC Networks by 20.7% during the 4th quarter. Quantinno Capital Management LP now owns 12,255 shares of the company's stock valued at $121,000 after purchasing an additional 2,102 shares during the period. Finally, Bayesian Capital Management LP raised its stake in AMC Networks by 30.0% during the 4th quarter. Bayesian Capital Management LP now owns 13,800 shares of the company's stock valued at $137,000 after purchasing an additional 3,182 shares during the period. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Stock Performance

NASDAQ:AMCX opened at $7.25 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.26. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $10.72. The stock's 50 day simple moving average is $6.25 and its two-hundred day simple moving average is $6.83. The company has a market cap of $325.74 million, a price-to-earnings ratio of -1.66 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMCX shares. Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a research note on Sunday. Morgan Stanley decreased their target price on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.38.

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.

Want to see what other hedge funds are holding AMCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMC Networks Inc. (NASDAQ:AMCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.