Mitsubishi UFJ Trust & Banking Corp Acquires 9,838 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 248,691 shares of the company’s stock after buying an additional 9,838 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in AMC Networks were worth $2,462,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd bought a new position in shares of AMC Networks during the fourth quarter valued at about $5,359,000. JPMorgan Chase & Co. grew its position in AMC Networks by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after acquiring an additional 158,162 shares during the last quarter. Readystate Asset Management LP purchased a new position in AMC Networks in the 3rd quarter worth approximately $711,000. BNP Paribas Financial Markets lifted its position in AMC Networks by 163.9% in the third quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock valued at $778,000 after purchasing an additional 55,565 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AMC Networks during the third quarter valued at approximately $444,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Insider Transactions at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business’s stock in a transaction 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 sale, the insider now 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 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 0.6 %

Shares of NASDAQ AMCX opened at $6.88 on Tuesday. The firm has a fifty day simple moving average of $8.18 and a two-hundred day simple moving average of $8.62. AMC Networks Inc. has a 12 month low of $6.56 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 firm has a market capitalization of $303.66 million, a PE ratio of -1.31 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last released 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). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The company had revenue of $599.30 million during the quarter, compared to the consensus estimate of $611.26 million. During the same period in the previous year, the company earned $0.72 earnings per share. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. Equities analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMCX has been the subject of a number of recent analyst reports. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Morgan Stanley lowered their price objective on shares of 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 note on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

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.