Charles Schwab Investment Management Inc. lowered its stake in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 583,237 shares of the company's stock after selling 395,903 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.32% of AMC Networks worth $5,774,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of AMC Networks by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company's stock worth $3,252,000 after buying an additional 158,162 shares in the last quarter. Readystate Asset Management LP bought a new position in AMC Networks in the 3rd quarter valued at $711,000. BNP Paribas Financial Markets grew its position in shares of AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company's stock valued at $778,000 after purchasing an additional 55,565 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AMC Networks in the third quarter worth $444,000. Finally, Barclays PLC increased its holdings in shares of AMC Networks by 8.5% in the third quarter. Barclays PLC now owns 554,837 shares of the company's stock worth $4,821,000 after purchasing an additional 43,623 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.
AMC Networks Price Performance
Shares of AMC Networks stock traded up $0.17 during trading on Wednesday, hitting $7.15. 213,586 shares of the stock traded hands, compared to its average volume of 977,430. The firm's fifty day moving average is $8.34 and its 200-day moving average is $8.65. The stock has a market cap of $315.57 million, a price-to-earnings ratio of -1.36 and a beta of 1.33. AMC Networks Inc. has a 52 week low of $6.59 and a 52 week high of $18.58. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63.
AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $599.30 million for the quarter, compared to analysts' expectations of $611.26 million. During the same period last year, the business posted $0.72 earnings per share. The company's revenue was down 11.7% compared to the same quarter last year. Research analysts expect that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.
Insider Buying and Selling at AMC Networks
In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now directly owns 20,833 shares of the company's stock, valued at $144,789.35. The trade was a 88.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 25.87% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, February 18th. StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, Morgan Stanley lowered their target price on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AMC Networks currently has a consensus rating of "Hold" and a consensus price target of $8.00.
Check Out Our Latest Stock Report on AMCX
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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