Quinn Opportunity Partners LLC Raises Position in AMC Networks Inc. (NASDAQ:AMCX)

Quinn Opportunity Partners LLC increased its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,541 shares of the company’s stock after purchasing an additional 32,705 shares during the period. Quinn Opportunity Partners LLC’s holdings in AMC Networks were worth $1,797,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in AMC Networks by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock valued at $229,000 after acquiring an additional 2,043 shares during the period. Ieq Capital LLC purchased a new position in shares of AMC Networks in the 4th quarter valued at about $414,000. Contrarius Group Holdings Ltd acquired a new stake in shares of AMC Networks in the fourth quarter valued at about $5,359,000. JPMorgan Chase & Co. boosted its holdings in AMC Networks by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after buying an additional 158,162 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in AMC Networks during the fourth quarter worth about $134,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 25.87% of the company’s stock.

AMC Networks Stock Up 2.7 %

Shares of NASDAQ:AMCX opened at $6.01 on Friday. The firm has a market cap of $265.26 million, a price-to-earnings ratio of -1.14 and a beta of 1.28. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $18.58. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The stock’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $8.44.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.41). The company had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current year.

Analyst Ratings Changes

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

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.