Panagora Asset Management Inc. Cuts Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Panagora Asset Management Inc. lowered its position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 37.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,530 shares of the company's stock after selling 48,203 shares during the quarter. Panagora Asset Management Inc. owned 0.18% of AMC Networks worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMCX. Signaturefd LLC lifted its stake in shares of AMC Networks by 206.2% in the third quarter. Signaturefd LLC now owns 2,364 shares of the company's stock worth $28,000 after acquiring an additional 1,592 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of AMC Networks in the 4th quarter valued at approximately $33,000. Public Employees Retirement System of Ohio boosted its stake in shares of AMC Networks by 20.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company's stock valued at $52,000 after buying an additional 737 shares during the last quarter. EMC Capital Management grew its position in shares of AMC Networks by 270.1% during the third quarter. EMC Capital Management now owns 6,292 shares of the company's stock worth $74,000 after buying an additional 4,592 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of AMC Networks by 70.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,887 shares of the company's stock worth $81,000 after buying an additional 2,849 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Stock Performance

AMCX traded up $1.42 on Wednesday, hitting $17.92. 1,066,261 shares of the company's stock were exchanged, compared to its average volume of 648,962. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 2.06. The stock has a fifty day moving average of $12.39 and a two-hundred day moving average of $14.85. AMC Networks Inc. has a twelve month low of $9.87 and a twelve month high of $20.97. The firm has a market cap of $780.60 million, a PE ratio of 5.02 and a beta of 1.22.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, May 10th. The company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.63). The company had revenue of $596.50 million during the quarter, compared to the consensus estimate of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The company's revenue for the quarter was down 16.9% on a year-over-year basis. During the same period last year, the business posted $2.62 EPS. On average, research analysts anticipate that AMC Networks Inc. will post 4.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TheStreet raised shares of AMC Networks from a "d+" rating to a "c-" rating in a report on Tuesday, February 13th. Morgan Stanley cut their price objective on AMC Networks from $12.00 to $11.00 and set an "underweight" rating on the stock in a research note on Monday, February 12th. Finally, StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a research report on Saturday, February 17th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, AMC Networks currently has an average rating of "Hold" and an average target price of $11.75.

Insider Activity

In other AMC Networks news, EVP James Gallagher sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total value of $388,500.00. Following the sale, the executive vice president now owns 1,659 shares in the company, valued at $25,780.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michael J. Sherin III sold 3,000 shares of the company's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the completion of the sale, the chief accounting officer now owns 4,948 shares of the company's stock, valued at $77,238.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Gallagher sold 25,000 shares of the firm's stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total transaction of $388,500.00. Following the transaction, the executive vice president now directly owns 1,659 shares in the company, valued at approximately $25,780.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,407 shares of company stock valued at $700,553. 25.87% of the stock is currently owned by company insiders.

AMC Networks Company 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.