Polar Asset Management Partners Inc. Has $2.41 Million Holdings in AMC Networks Inc. $AMCX

Polar Asset Management Partners Inc. cut its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 29.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,861 shares of the company’s stock after selling 121,877 shares during the period. Polar Asset Management Partners Inc. owned about 0.67% of AMC Networks worth $2,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Man Group plc boosted its stake in AMC Networks by 6.7% in the second quarter. Man Group plc now owns 27,669 shares of the company’s stock worth $173,000 after purchasing an additional 1,735 shares in the last quarter. First Trust Advisors LP increased its stake in shares of AMC Networks by 18.2% in the third quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after buying an additional 1,840 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of AMC Networks by 10.8% in the third quarter. Concurrent Investment Advisors LLC now owns 26,134 shares of the company’s stock valued at $215,000 after buying an additional 2,552 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after buying an additional 2,735 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of AMC Networks by 11.2% in the third quarter. Principal Financial Group Inc. now owns 33,038 shares of the company’s stock valued at $272,000 after buying an additional 3,319 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Michael J. Sherin III sold 5,963 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer directly owned 10,648 shares in the company, valued at $84,758.08. This represents a 35.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

AMC Networks Price Performance

Shares of AMCX stock opened at $6.64 on Friday. The firm has a market cap of $283.59 million, a price-to-earnings ratio of 4.85 and a beta of 1.06. AMC Networks Inc. has a 12 month low of $5.41 and a 12 month high of $10.27. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72. The stock has a 50-day moving average price of $7.83 and a 200 day moving average price of $8.18.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. The company had revenue of $594.80 million for the quarter, compared to the consensus estimate of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Research analysts expect that AMC Networks Inc. will post 2.62 EPS for the current year.

AMC Networks Company 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.