Legal & General Group Plc Sells 26,201 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Legal & General Group Plc cut its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 89.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,031 shares of the company’s stock after selling 26,201 shares during the period. Legal & General Group Plc’s holdings in AMC Networks were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AMCX. Cerity Partners LLC lifted its holdings in shares of AMC Networks by 89.8% in the 4th quarter. Cerity Partners LLC now owns 21,734 shares of the company’s stock worth $211,000 after buying an additional 10,285 shares during the period. Federated Hermes Inc. raised its position 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 purchasing an additional 1,918 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 1,097 shares during the period. Envestnet Asset Management Inc. grew its stake in AMC Networks by 44.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 60,748 shares of the company’s stock valued at $601,000 after purchasing an additional 18,611 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in AMC Networks by 18.4% during the 4th quarter. Wells Fargo & Company MN now owns 26,216 shares of the company’s stock worth $260,000 after buying an additional 4,083 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Price Performance

AMC Networks stock opened at $6.30 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. The business has a fifty day moving average of $6.63 and a two-hundred day moving average of $8.25. AMC Networks Inc. has a one year low of $5.41 and a one year high of $18.58. The company has a market cap of $278.06 million, a P/E ratio of -1.20 and a beta of 1.28.

AMC Networks (NASDAQ:AMCX) last issued 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 company had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 25.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMCX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. UBS Group reduced 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 report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Morgan Stanley cut their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Finally, StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Four research 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, AMC Networks currently has an average rating of “Hold” and a consensus price target of $6.50.

AMC Networks 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.