AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC reduced its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 9.6% in the 4th quarter, HoldingsChannel reports. The firm owned 17,145 shares of the company’s stock after selling 1,825 shares during the period. Clear Harbor Asset Management LLC’s holdings in AMC Networks were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMCX. Quarry LP raised its stake in shares of AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after buying an additional 2,336 shares in the last quarter. nVerses Capital LLC acquired a new position in AMC Networks during the third quarter worth $55,000. Quantinno Capital Management LP acquired a new position in AMC Networks during the third quarter worth $88,000. FORA Capital LLC purchased a new position in AMC Networks in the third quarter worth $89,000. Finally, MML Investors Services LLC acquired a new stake in AMC Networks in the third quarter valued at $91,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.50.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $9.44 on Thursday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 2.03. The company’s 50-day moving average price is $9.39 and its 200 day moving average price is $9.25. AMC Networks Inc. has a 52 week low of $7.08 and a 52 week high of $19.39. The stock has a market cap of $416.49 million, a price-to-earnings ratio of 14.98 and a beta of 1.32.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.62 by $0.29. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The business had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. During the same period in the prior year, the business earned $1.85 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, research analysts forecast that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

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.