Renaissance Technologies LLC cut its holdings in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 346,922 shares of the company's stock after selling 138,258 shares during the period. Renaissance Technologies LLC owned approximately 0.79% of AMC Networks worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in AMC Networks by 45.7% in the fourth 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 during the period. R Squared Ltd bought a new stake in shares of AMC Networks in the 4th quarter valued at $59,000. 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 acquiring an additional 1,918 shares during the period. MML Investors Services LLC bought a new position in AMC Networks during the third quarter worth $91,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in AMC Networks in the fourth quarter worth $106,000. 78.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on AMCX. UBS Group cut their price objective 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. JPMorgan Chase & Co. cut their price target on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley cut their target price on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a report on Thursday, February 20th. Finally, StockNews.com downgraded shares of AMC Networks from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.50.
Read Our Latest Report on AMCX
Insider Buying and Selling
In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on 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 directly owns 20,833 shares in the company, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.87% of the stock is owned by corporate insiders.
AMC Networks Stock Performance
Shares of AMC Networks stock remained flat at $6.54 on Monday. The stock had a trading volume of 246,380 shares, compared to its average volume of 999,567. The firm has a market capitalization of $288.65 million, a PE ratio of -1.25 and a beta of 1.28. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $18.58. The stock's 50-day simple moving average is $6.71 and its 200 day simple moving average is $8.29.
AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same quarter last year, the business posted $0.72 earnings per share. AMC Networks's revenue was down 11.7% on a year-over-year basis. Equities analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.
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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