Gabelli Funds LLC Sells 1,800 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Gabelli Funds LLC lessened its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,900 shares of the company’s stock after selling 1,800 shares during the period. Gabelli Funds LLC owned about 0.42% of AMC Networks worth $2,231,000 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. GAMMA Investing LLC bought a new position in AMC Networks in the fourth quarter valued at about $33,000. EntryPoint Capital LLC acquired a new stake in shares of AMC Networks during the first quarter valued at about $60,000. Nisa Investment Advisors LLC boosted its stake in shares of AMC Networks by 98.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock valued at $81,000 after purchasing an additional 2,146 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMC Networks by 94.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the company’s stock valued at $114,000 after purchasing an additional 2,959 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of AMC Networks during the first quarter valued at about $118,000. Institutional investors own 78.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.75.

AMC Networks Trading Up 5.5 %

Shares of AMC Networks stock traded up $0.57 during midday trading on Friday, reaching $10.90. The company had a trading volume of 476,184 shares, compared to its average volume of 647,189. The stock has a fifty day moving average price of $12.77 and a 200 day moving average price of $13.39. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $474.80 million, a PE ratio of 3.05 and a beta of 1.30. AMC Networks Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $20.97.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 10th. The company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). The company had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. AMC Networks’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.62 earnings per share. On average, equities analysts anticipate that AMC Networks Inc. will post 4.93 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kimberly Kelleher sold 10,941 shares of AMC Networks stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total value of $188,404.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AMC Networks news, CAO Michael J. Sherin III sold 4,948 shares of AMC Networks stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $16.11, for a total value of $79,712.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kimberly Kelleher sold 10,941 shares of AMC Networks stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total value of $188,404.02. The disclosure for this sale can be found here. Insiders have sold a total of 55,348 shares of company stock valued at $888,957 over the last ninety days. 25.87% of the stock is owned by company insiders.

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.