AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 55.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,871 shares of the company’s stock after selling 28,494 shares during the quarter. AlphaQuest LLC’s holdings in AMC Networks were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Atria Investments Inc bought a new position in shares of AMC Networks in the third quarter worth $141,000. Entropy Technologies LP grew its position in AMC Networks by 24.2% in the 3rd quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock valued at $125,000 after buying an additional 2,800 shares in the last quarter. Aigen Investment Management LP acquired a new position in AMC Networks during the 3rd quarter valued at about $117,000. 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 worth $1,267,000 after acquiring an additional 83,476 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of AMC Networks by 5.3% in the third quarter. Empowered Funds LLC now owns 175,500 shares of the company’s stock valued at $1,525,000 after acquiring an additional 8,844 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

Insiders Place Their Bets

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the sale, the insider now owns 20,833 shares of the company’s stock, valued at $144,789.35. This trade represents a 88.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 25.87% of the company’s stock.

AMC Networks Stock Up 3.1 %

Shares of NASDAQ:AMCX opened at $6.99 on Friday. The firm has a 50 day simple moving average of $8.63 and a 200 day simple moving average of $8.78. AMC Networks Inc. has a 52 week low of $6.59 and a 52 week high of $18.58. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market cap of $308.51 million, a PE ratio of -1.33 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last released its 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). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. During the same quarter in the previous year, the company earned $0.72 EPS. AMC Networks’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, research analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Analysts Set New Price Targets

AMCX has been the topic of several research analyst reports. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley dropped their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

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.