Bank of America Corp DE Decreases Stock Position in AMC Networks Inc. (NASDAQ:AMCX)

Bank of America Corp DE lowered its stake in AMC Networks Inc. (NASDAQ:AMCX) by 42.0% during the 4th quarter, Holdings Channel reports. The firm owned 109,822 shares of the company’s stock after selling 79,649 shares during the quarter. Bank of America Corp DE’s holdings in AMC Networks were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Aristeia Capital L.L.C. purchased a new stake in shares of AMC Networks during the 4th quarter valued at about $672,000. Gallagher Fiduciary Advisors LLC raised its position in shares of AMC Networks by 17.4% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 18,659 shares of the company’s stock valued at $185,000 after buying an additional 2,770 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of AMC Networks during the 4th quarter valued at about $323,000. AQR Capital Management LLC raised its position in shares of AMC Networks by 30.2% during the 4th quarter. AQR Capital Management LLC now owns 765,298 shares of the company’s stock valued at $7,576,000 after buying an additional 177,368 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of AMC Networks by 430.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 128,326 shares of the company’s stock valued at $1,270,000 after buying an additional 104,115 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Price Performance

Shares of AMCX stock opened at $6.48 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The company has a market capitalization of $291.13 million, a P/E ratio of -1.23 and a beta of 1.38. The company’s 50-day simple moving average is $6.27 and its two-hundred day simple moving average is $7.89. AMC Networks Inc. has a one year low of $5.41 and a one year high of $17.73.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 9th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). The company had revenue of $555.23 million during the quarter, compared to the consensus estimate of $567.23 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. AMC Networks’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, equities analysts anticipate that AMC Networks Inc. will post 2.62 EPS for the current year.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. This trade represents a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.62% of the company’s stock.

Analyst Upgrades and Downgrades

AMCX has been the topic of several analyst reports. Wall Street Zen upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Morgan Stanley cut their price target on shares of AMC Networks from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, May 12th. UBS Group cut their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Four analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMC Networks presently has an average rating of “Hold” and a consensus price target of $5.38.

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.