Range Financial Group LLC Buys New Position in AMC Networks Inc. (NASDAQ:AMCX)

Range Financial Group LLC bought a new stake in AMC Networks Inc. (NASDAQ:AMCX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,185 shares of the company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Readystate Asset Management LP acquired a new stake in AMC Networks in the 4th quarter valued at approximately $880,000. Schroder Investment Management Group raised its position in AMC Networks by 2.0% in the 4th quarter. Schroder Investment Management Group now owns 1,010,729 shares of the company’s stock valued at $18,992,000 after buying an additional 19,794 shares during the last quarter. Privium Fund Management UK Ltd raised its position in AMC Networks by 38.3% in the 4th quarter. Privium Fund Management UK Ltd now owns 19,982 shares of the company’s stock valued at $375,000 after buying an additional 5,531 shares during the last quarter. RWWM Inc. raised its position in AMC Networks by 193.7% in the 4th quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after buying an additional 339,912 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in AMC Networks by 88,362.5% in the 4th quarter. TFO Wealth Partners LLC now owns 14,154 shares of the company’s stock valued at $266,000 after buying an additional 14,138 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.75.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $10.31 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 2.06. AMC Networks Inc. has a 12 month low of $9.46 and a 12 month high of $20.97. The stock has a 50 day moving average of $13.91 and a 200-day moving average of $14.84. The company has a market capitalization of $449.12 million, a P/E ratio of 2.89 and a beta of 1.36.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 10th. The company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.63). AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.74 million. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. As a group, equities research analysts predict that AMC Networks Inc. will post 4.93 EPS for the current year.

Insider Transactions at AMC Networks

In other news, EVP James Gallagher sold 25,000 shares of AMC Networks stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,659 shares in the company, valued at approximately $25,780.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James Gallagher sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.54, for a total value of $388,500.00. Following the completion of the sale, the executive vice president now directly owns 1,659 shares in the company, valued at approximately $25,780.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Sherin III sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the completion of the sale, the chief accounting officer now owns 4,948 shares of the company’s stock, valued at $77,238.28. The disclosure for this sale can be found here. In the last three months, insiders sold 55,348 shares of company stock worth $888,957. 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.