Arrowstreet Capital Limited Partnership Takes $631,000 Position in AMC Networks Inc. (NASDAQ:AMCX)

Arrowstreet Capital Limited Partnership purchased a new stake in AMC Networks Inc. (NASDAQ:AMCX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 63,698 shares of the company’s stock, valued at approximately $631,000. Arrowstreet Capital Limited Partnership owned about 0.14% of AMC Networks as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of AMC Networks in the 4th quarter valued at about $59,000. Quantinno Capital Management LP bought a new position in AMC Networks in the third quarter valued at approximately $88,000. MML Investors Services LLC bought a new position in AMC Networks in the third quarter valued at approximately $91,000. Concurrent Investment Advisors LLC acquired a new stake in AMC Networks during the 4th quarter worth $106,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of AMC Networks in the 4th quarter valued at $134,000. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

AMCX opened at $6.01 on Friday. The company has a market capitalization of $265.26 million, a price-to-earnings ratio of -1.14 and a beta of 1.28. The business’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $8.44. AMC Networks Inc. has a 1 year low of $5.41 and a 1 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) last announced its quarterly earnings data on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $599.30 million during the quarter, compared to the consensus estimate of $611.26 million. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities analysts expect that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMCX shares. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. JPMorgan Chase & Co. lowered their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley reduced their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.00.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s 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 completion of the sale, the insider now owns 20,833 shares in the company, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 25.87% 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.