AMC Networks Inc. (NASDAQ:AMCX) Insider Sells $1,072,697.75 in Stock

AMC Networks Inc. (NASDAQ:AMCX) insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the transaction, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AMC Networks Trading Up 2.3 %

Shares of NASDAQ:AMCX traded up $0.16 during midday trading on Wednesday, reaching $7.17. The company had a trading volume of 442,311 shares, compared to its average volume of 1,012,214. The company has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $8.85. The firm has a market cap of $316.46 million, a price-to-earnings ratio of -1.37 and a beta of 1.33. AMC Networks Inc. has a 1-year low of $6.59 and a 1-year high of $18.58. 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 (NASDAQ:AMCX) last announced 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). The firm had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMCX shares. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. 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 report on Thursday, February 20th. Finally, JPMorgan Chase & Co. 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 Tuesday, February 18th. Three equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Royce & Associates LP raised its stake in AMC Networks by 134.0% during the 3rd 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. Ieq Capital LLC purchased a new position in shares of AMC Networks during the fourth quarter valued at $414,000. Principal Financial Group Inc. raised its position in AMC Networks by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock valued at $229,000 after buying an additional 2,043 shares during the period. BNP Paribas Financial Markets lifted its stake in AMC Networks by 163.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after acquiring an additional 55,565 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in AMC Networks by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock valued at $3,252,000 after acquiring an additional 158,162 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Company Profile

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.