Two Sigma Investments LP Acquires 90,169 Shares of AMC Networks Inc. (NASDAQ:AMCX)
Two Sigma Investments LP increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 18.8% in Q4, acquiring 90,169 shares, bringing its total to 569,523 shares valued at $5.64 million. Other hedge funds also raised their holdings. AMC Networks reported a Q1 EPS of $0.52, missing estimates, with revenue of $555.23 million, down 6.9% year-over-year. Analysts have mixed ratings, with some upgrading to 'buy' while others lowered price targets significantly.
Two Sigma Investments LP grew its stake in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,523 shares of the company's stock after acquiring an additional 90,169 shares during the period. Two Sigma Investments LP owned 1.29% of AMC Networks worth $5,638,000 at the end of the most recent quarter.
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Several other hedge funds also recently modified their holdings of AMCX. Russell Investments Group Ltd. raised its holdings in AMC Networks by 45.7% during the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock worth $35,000 after acquiring an additional 1,097 shares in the last quarter. Gabelli Funds LLC increased its position in shares of AMC Networks by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company's stock worth $1,325,000 after purchasing an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company's stock worth $494,000 after purchasing an additional 1,589 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of AMC Networks by 2.9% in the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company's stock valued at $597,000 after buying an additional 1,680 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after buying an additional 1,918 shares during the last quarter. Institutional investors own 78.51% of the company's stock.
Insider Buying and Selling at AMC Networks
In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 20,833 shares in the company, valued at $144,789.35. The trade was a 88.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 15.62% of the company's stock.
AMC Networks Price Performance
NASDAQ:AMCX opened at $6.20 on Tuesday. The company has a market cap of $278.55 million, a P/E ratio of -1.18 and a beta of 1.43. The firm's fifty day moving average price is $6.35 and its two-hundred day moving average price is $8.03. AMC Networks Inc. has a one year low of $5.41 and a one year high of $18.58. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38.
AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its earnings results 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). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The company had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. During the same quarter in the prior year, the business posted $1.16 EPS. The business's quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of AMC Networks from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. UBS Group cut their target price on shares of AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley reduced their price target on AMC Networks from $6.00 to $5.50 and set an "underweight" rating for the company in a report on Monday, May 12th. Four analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AMC Networks has an average rating of "Hold" and a consensus target price of $5.38.
Check Out Our Latest Report on AMCX
AMC Networks Profile
(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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Want to see what other hedge funds are holding AMCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMC Networks Inc. (NASDAQ:AMCX - Free Report).
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