XTX Topco Ltd Acquires 26,960 Shares of AMC Networks Inc. (NASDAQ:AMCX)

XTX Topco Ltd boosted its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 56.1% in the 4th quarter, HoldingsChannel reports. The firm owned 75,053 shares of the company’s stock after purchasing an additional 26,960 shares during the quarter. XTX Topco Ltd’s holdings in AMC Networks were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMCX. Russell Investments Group Ltd. increased its holdings in shares of AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after purchasing an additional 1,097 shares during the last quarter. R Squared Ltd purchased a new position in AMC Networks during the 4th quarter valued at approximately $59,000. Federated Hermes Inc. increased its stake in AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after acquiring an additional 1,918 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of AMC Networks during the 3rd quarter worth approximately $91,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of AMC Networks during the 4th quarter valued at approximately $106,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AMCX. Wells Fargo & Company decreased their price target 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. UBS Group lowered their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a report on Tuesday. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Morgan Stanley lowered their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.50.

Insider Activity

In other 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 transaction of $1,072,697.75. Following the transaction, the insider now directly owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 25.87% of the company’s stock.

AMC Networks Stock Up 2.0 %

Shares of NASDAQ AMCX opened at $6.10 on Friday. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $18.58. The firm has a 50-day simple moving average of $7.11 and a two-hundred day simple moving average of $8.38. The company has a market cap of $269.23 million, a P/E ratio of -1.16 and a beta of 1.28. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). The business had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 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 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Research analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current 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.