Jacobs Levy Equity Management Inc. Reduces Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Jacobs Levy Equity Management Inc. reduced its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,877 shares of the company’s stock after selling 1,760 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in AMC Networks were worth $246,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after buying an additional 1,097 shares during the period. R Squared Ltd purchased a new stake in shares of AMC Networks during the 4th quarter valued at about $59,000. Federated Hermes Inc. raised its holdings in shares of AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after buying an additional 1,918 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of AMC Networks during the 4th quarter valued at about $106,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of AMC Networks during the 4th quarter valued at about $134,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the sale, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. The trade was a 88.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.62% of the company’s stock.

AMC Networks Price Performance

AMCX stock opened at $6.23 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks Inc. has a 52-week low of $5.41 and a 52-week high of $18.58. The stock’s 50 day moving average is $6.44 and its two-hundred day moving average is $8.12. The company has a market capitalization of $274.97 million, a PE ratio of -1.19 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $555.23 million for the quarter, compared to analysts’ expectations of $567.23 million. During the same quarter in the prior year, the firm earned $1.16 earnings per share. AMC Networks’s revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on AMCX shares. Wells Fargo & Company dropped their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. UBS Group dropped their price objective on AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley dropped their price objective on AMC Networks from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, May 12th. Finally, StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.