Polar Asset Management Partners Inc. Sells 121,877 Shares of AMC Networks Inc. $AMCX

Polar Asset Management Partners Inc. cut its position in AMC Networks Inc. (NASDAQ:AMCX) by 29.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 292,861 shares of the company’s stock after selling 121,877 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in AMC Networks were worth $2,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of AMC Networks by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock valued at $17,881,000 after buying an additional 132,013 shares in the last quarter. Marshall Wace LLP lifted its holdings in AMC Networks by 3.2% during the third quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock worth $12,069,000 after acquiring an additional 45,093 shares in the last quarter. UBS Group AG lifted its holdings in AMC Networks by 13.2% during the third quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after acquiring an additional 136,771 shares in the last quarter. American Century Companies Inc. grew its stake in AMC Networks by 11.5% in the second quarter. American Century Companies Inc. now owns 995,837 shares of the company’s stock valued at $6,244,000 after acquiring an additional 102,346 shares during the period. Finally, Geode Capital Management LLC grew its stake in AMC Networks by 4.0% in the second quarter. Geode Capital Management LLC now owns 933,023 shares of the company’s stock valued at $5,851,000 after acquiring an additional 36,203 shares during the period. 78.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Michael J. Sherin III sold 5,963 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total transaction of $47,465.48. Following the completion of the transaction, the chief accounting officer directly owned 10,648 shares of the company’s stock, valued at $84,758.08. This trade represents a 35.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMCX has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a research report on Wednesday, January 21st. Wells Fargo & Company increased their target price on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Morgan Stanley raised their target price on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, December 18th. Seaport Research Partners lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Zacks Research upgraded shares of AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $7.00.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $6.64 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $283.59 million, a price-to-earnings ratio of 4.85 and a beta of 1.06. The stock’s 50-day moving average is $7.83 and its 200-day moving average is $8.18. AMC Networks Inc. has a one year low of $5.41 and a one year high of $10.27.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.14. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The business had revenue of $594.80 million during the quarter, compared to the consensus estimate of $581.83 million. During the same period last year, the company earned $0.64 earnings per share. AMC Networks’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

AMC Networks Profile

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.