AMC Networks Inc. (NASDAQ:AMCX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 82.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,379 shares of the company’s stock after selling 6,570 shares during the quarter. Russell Investments Group Ltd.’s holdings in AMC Networks were worth $26,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of AMC Networks by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock worth $41,145,000 after purchasing an additional 30,721 shares during the period. Barclays PLC grew its stake in shares of AMC Networks by 164.5% during the 3rd quarter. Barclays PLC now owns 41,906 shares of the company’s stock worth $495,000 after purchasing an additional 26,061 shares during the period. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of AMC Networks during the 3rd quarter worth $3,957,000. Assenagon Asset Management S.A. boosted its position in shares of AMC Networks by 152.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock worth $750,000 after buying an additional 24,085 shares in the last quarter. Finally, RWWM Inc. acquired a new stake in AMC Networks in the 3rd quarter valued at about $2,068,000. 78.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AMC Networks Stock Performance

NASDAQ AMCX opened at $16.43 on Friday. AMC Networks Inc. has a fifty-two week low of $9.87 and a fifty-two week high of $20.97. The stock has a market cap of $715.69 million, a price-to-earnings ratio of 4.60 and a beta of 1.22. The business has a fifty day moving average of $12.56 and a 200-day moving average of $14.88. 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 (NASDAQ:AMCX) last released 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). The company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period last year, the firm earned $2.62 earnings per share. As a group, analysts predict that AMC Networks Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Activity at AMC Networks

In related news, CFO Patrick O’connell sold 6,459 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $16.32, for a total value of $105,410.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AMC Networks news, CFO Patrick O’connell sold 6,459 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $16.32, for a total transaction of $105,410.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James Gallagher sold 25,000 shares of the business’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 sale, 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. Over the last ninety days, insiders sold 44,407 shares of company stock worth $700,553. 25.87% of the stock is currently owned by insiders.

About AMC Networks

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.