AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its holdings in AMC Networks Inc. (NASDAQ:AMCXFree Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 185,700 shares of the company’s stock after selling 13,300 shares during the period. Gabelli Funds LLC owned 0.43% of AMC Networks worth $3,489,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in AMC Networks by 20.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock valued at $52,000 after acquiring an additional 737 shares during the last quarter. SG Americas Securities LLC raised its holdings in AMC Networks by 5.8% in the 4th quarter. SG Americas Securities LLC now owns 16,030 shares of the company’s stock valued at $301,000 after acquiring an additional 882 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in AMC Networks by 6.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 18,428 shares of the company’s stock valued at $346,000 after acquiring an additional 1,172 shares during the last quarter. Swiss National Bank raised its holdings in AMC Networks by 2.6% in the 3rd quarter. Swiss National Bank now owns 59,900 shares of the company’s stock valued at $706,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in AMC Networks by 13.6% in the 3rd quarter. Amalgamated Bank now owns 13,279 shares of the company’s stock valued at $156,000 after acquiring an additional 1,593 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Stock Down 1.4 %

Shares of AMC Networks stock opened at $17.25 on Friday. The company has a fifty day moving average price of $13.53 and a 200 day moving average price of $15.08. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 2.06. AMC Networks Inc. has a twelve month low of $9.87 and a twelve month high of $20.97. The stock has a market cap of $751.41 million, a price-to-earnings ratio of 4.83 and a beta of 1.36.

AMC Networks (NASDAQ:AMCXGet Free Report) last announced its quarterly earnings results on Friday, May 10th. The company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business had revenue of $596.50 million for the quarter, compared to analysts’ expectations of $601.74 million. During the same period last year, the company posted $2.62 earnings per share. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. Equities research analysts forecast that AMC Networks Inc. will post 4.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AMCX shares. Morgan Stanley lowered their price objective on shares of AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Monday, February 12th. TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.75.

Read Our Latest Stock Report on AMC Networks

Insider Buying and Selling

In related news, EVP James Gallagher sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the sale, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at approximately $25,780.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AMC Networks news, insider Kimberly Kelleher sold 10,941 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $17.22, for a total value of $188,404.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Gallagher sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at $25,780.86. The disclosure for this sale can be found here. In the last three months, insiders sold 55,348 shares of company stock valued at $888,957. Company insiders own 25.87% of the company’s stock.

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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Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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