Thrivent Financial for Lutherans Decreases Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Thrivent Financial for Lutherans cut its stake in AMC Networks Inc. (NASDAQ:AMCX) by 28.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 91,021 shares of the company’s stock after selling 36,745 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AMC Networks were worth $901,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of AMC Networks during the 4th quarter worth approximately $59,000. Quantinno Capital Management LP purchased a new position in shares of AMC Networks in the 3rd quarter worth $88,000. MML Investors Services LLC purchased a new position in shares of AMC Networks in the 3rd quarter worth $91,000. Concurrent Investment Advisors LLC acquired a new position in AMC Networks in the fourth quarter valued at $106,000. Finally, Martingale Asset Management L P purchased a new stake in AMC Networks during the third quarter valued at about $95,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMCX shares. JPMorgan Chase & Co. cut their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Morgan Stanley decreased 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. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

AMC Networks Stock Down 0.3 %

Shares of AMC Networks stock opened at $6.86 on Wednesday. The business has a 50-day moving average price of $8.14 and a 200 day moving average price of $8.60. AMC Networks Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $18.58. The firm has a market cap of $302.77 million, a P/E ratio of -1.31 and a beta of 1.33. 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 (NASDAQ:AMCX) last released its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, sell-side analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the transaction, the insider now owns 20,833 shares in the company, valued at approximately $144,789.35. This represents a 88.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.87% of the stock is currently owned by company insiders.

About AMC Networks

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.