AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 37.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 79,530 shares of the company’s stock after selling 48,203 shares during the period. Panagora Asset Management Inc.’s holdings in AMC Networks were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of AMC Networks by 0.9% during the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after acquiring an additional 30,721 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AMC Networks by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,529,595 shares of the company’s stock valued at $28,741,000 after acquiring an additional 155,346 shares during the last quarter. Invesco Ltd. increased its position in shares of AMC Networks by 6.2% during the third quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock valued at $6,231,000 after acquiring an additional 30,646 shares during the last quarter. Smith Graham & Co. Investment Advisors LP increased its position in shares of AMC Networks by 14.1% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 383,384 shares of the company’s stock valued at $7,204,000 after acquiring an additional 47,466 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of AMC Networks by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 359,992 shares of the company’s stock valued at $4,241,000 after acquiring an additional 10,439 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AMCX. 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. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Finally, TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.75.

Insiders Place Their Bets

In other AMC Networks news, EVP James Gallagher sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at $25,780.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Patrick O’connell sold 5,000 shares of AMC Networks stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $16.02, for a total value of $80,100.00. Following the transaction, the chief financial officer now directly owns 6,459 shares of the company’s stock, valued at approximately $103,473.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Gallagher sold 25,000 shares of AMC Networks 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 transaction, the executive vice president now directly owns 1,659 shares in the company, valued at $25,780.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,000 shares of company stock valued at $515,430. 27.06% of the stock is owned by corporate insiders.

AMC Networks Stock Up 2.2 %

Shares of AMC Networks stock opened at $16.50 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.06. AMC Networks Inc. has a 52-week low of $9.87 and a 52-week high of $20.97. The company has a 50 day moving average of $12.29 and a 200 day moving average of $14.83. The company has a market capitalization of $718.77 million, a P/E ratio of 4.62 and a beta of 1.22.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data 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 company had revenue of $596.50 million for the quarter, compared to analyst estimates of $601.74 million. During the same period in the previous year, the business posted $2.62 EPS. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, research analysts forecast that AMC Networks Inc. will post 4.93 EPS for the current fiscal year.

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.