AlphaQuest LLC Cuts Stock Position in AMC Networks Inc. (NASDAQ:AMCX)

AlphaQuest LLC trimmed its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 55.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,871 shares of the company’s stock after selling 28,494 shares during the period. AlphaQuest LLC owned 0.05% of AMC Networks worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMCX. Atria Investments Inc acquired a new stake in shares of AMC Networks in the third quarter valued at about $141,000. Entropy Technologies LP grew its position in AMC Networks by 24.2% in the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock valued at $125,000 after acquiring an additional 2,800 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of AMC Networks during the third quarter worth $117,000. Royce & Associates LP boosted its stake in shares of AMC Networks by 134.0% in the third 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 period. Finally, Empowered Funds LLC grew its holdings in AMC Networks by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 175,500 shares of the company’s stock valued at $1,525,000 after purchasing an additional 8,844 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AMCX. JPMorgan Chase & Co. decreased their price objective on shares of 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 downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Morgan Stanley dropped their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction dated 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 sale, the insider now owns 20,833 shares in the company, valued at $144,789.35. This represents a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.87% of the stock is currently owned by company insiders.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $6.99 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. AMC Networks Inc. has a 1 year low of $6.59 and a 1 year high of $18.58. The firm’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $8.78. The firm 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 announced its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). The firm had revenue of $599.30 million for 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%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Equities analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

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.