Koss Olinger Consulting LLC lowered its position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 22.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,867 shares of the company's stock after selling 35,654 shares during the period. Koss Olinger Consulting LLC owned 0.27% of AMC Networks worth $1,187,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMCX. JPMorgan Chase & Co. lifted its position in AMC Networks by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company's stock valued at $3,252,000 after buying an additional 158,162 shares during the period. Royce & Associates LP increased 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 in the last quarter. Readystate Asset Management LP purchased a new position in AMC Networks during the 3rd quarter valued at about $711,000. BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 55,565 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in AMC Networks during the third quarter worth about $444,000. Hedge funds and other institutional investors own 78.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Morgan Stanley decreased 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 Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. Finally, StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.00.
View Our Latest Stock Report on AMCX
Insiders Place Their Bets
In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following the sale, the insider now 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 document filed with the SEC, which can be accessed through the SEC website. 25.87% of the stock is owned by insiders.
AMC Networks Stock Down 1.5 %
Shares of NASDAQ:AMCX traded down $0.11 during trading on Friday, reaching $7.20. 1,307,421 shares of the stock traded hands, compared to its average volume of 982,119. The stock has a market cap of $317.78 million, a P/E ratio of -1.37 and a beta of 1.33. 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 stock has a 50-day moving average of $8.41 and a two-hundred day moving average of $8.68. AMC Networks Inc. has a 52-week low of $6.59 and a 52-week high of $18.58.
AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its 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 negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million for the quarter, compared to analysts' expectations of $611.26 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business's revenue for the quarter was down 11.7% on a year-over-year basis. As a group, sell-side analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal 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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