AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its stake in AMC Networks Inc. (NASDAQ:AMCX) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,097 shares of the company’s stock after selling 22,035 shares during the period. Point72 Asia Singapore Pte. Ltd. owned 0.07% of AMC Networks worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in AMCX. JPMorgan Chase & Co. raised its holdings in AMC Networks by 333.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock worth $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in AMC Networks during the fourth quarter worth approximately $5,359,000. Janus Henderson Group PLC boosted its position in AMC Networks by 2,483.1% during the fourth quarter. Janus Henderson Group PLC now owns 309,090 shares of the company’s stock worth $3,060,000 after acquiring an additional 297,124 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in AMC Networks by 22.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock worth $14,505,000 after acquiring an additional 267,044 shares during the last quarter. Finally, RWWM Inc. boosted its holdings in shares of AMC Networks by 20.6% in the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after purchasing an additional 266,322 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

Insider Activity at AMC Networks

In other 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 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 directly owns 20,833 shares in the company, valued at $144,789.35. This trade represents a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.62% of the stock is currently owned by corporate insiders.

AMC Networks Price Performance

NASDAQ AMCX opened at $6.42 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The company has a fifty day simple moving average of $6.46 and a 200 day simple moving average of $8.13. The company has a market cap of $283.35 million, a P/E ratio of -1.22 and a beta of 1.43. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). The business had revenue of $555.23 million during the quarter, compared to analyst estimates of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. On average, sell-side analysts predict that AMC Networks Inc. will post 2.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMCX. UBS Group cut their target price on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday. Finally, Morgan Stanley reduced their target price on shares of AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday. Four analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.38.

About AMC Networks

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.