541,314 Shares in AMC Networks Inc. (NASDAQ:AMCX) Acquired by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd purchased a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) in the 4th quarter, Holdings Channel.com reports. The firm purchased 541,314 shares of the company’s stock, valued at approximately $5,359,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of AMC Networks by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock valued at $3,252,000 after purchasing an additional 158,162 shares during the last quarter. Royce & Associates LP lifted its stake in shares of AMC Networks by 134.0% in the 3rd quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock valued at $1,267,000 after purchasing an additional 83,476 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of AMC Networks in the 3rd quarter valued at $711,000. BNP Paribas Financial Markets lifted its stake in AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after acquiring an additional 55,565 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in AMC Networks during the 3rd quarter worth about $444,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Price Performance

AMCX stock opened at $7.16 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market capitalization of $316.01 million, a P/E ratio of -1.36 and a beta of 1.33. The business’s 50-day moving average is $8.48 and its two-hundred day moving average is $8.72. AMC Networks Inc. has a 1 year low of $6.59 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). The company had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s stock in a transaction dated 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 owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMCX. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Morgan Stanley decreased their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.00.

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.