Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the first quarter, Holdings Channel reports. The fund owned 3,714 shares of the Internet television network’s stock after selling 52 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Netflix were worth $1,324,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in NFLX. State of Tennessee Treasury Department increased its stake in Netflix by 6.0% during the 4th quarter. State of Tennessee Treasury Department now owns 293,123 shares of the Internet television network’s stock worth $78,457,000 after purchasing an additional 16,622 shares in the last quarter. Usca Ria LLC increased its stake in Netflix by 6.8% during the 4th quarter. Usca Ria LLC now owns 2,052 shares of the Internet television network’s stock worth $549,000 after purchasing an additional 130 shares in the last quarter. Bach Investment Advisors Ltd increased its stake in Netflix by 128.9% during the 1st quarter. Bach Investment Advisors Ltd now owns 1,224 shares of the Internet television network’s stock worth $436,000 after purchasing an additional 5,465 shares in the last quarter. Cabot Wealth Management Inc. bought a new stake in Netflix during the 4th quarter worth approximately $1,578,000. Finally, Regal Investment Advisors LLC increased its stake in Netflix by 44.5% during the 4th quarter. Regal Investment Advisors LLC now owns 783 shares of the Internet television network’s stock worth $210,000 after purchasing an additional 241 shares in the last quarter. 76.10% of the stock is owned by institutional investors.
In related news, CEO Reed Hastings sold 67,907 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $328.17, for a total value of $22,285,040.19. Following the sale, the chief executive officer now owns 67,907 shares in the company, valued at approximately $22,285,040.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 7,607 shares of the stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $360.00, for a total value of $2,738,520.00. Following the completion of the sale, the director now owns 444 shares in the company, valued at approximately $159,840. The disclosure for this sale can be found here. In the last three months, insiders sold 184,381 shares of company stock valued at $64,721,327. 4.29% of the stock is currently owned by insiders.
Shares of NASDAQ NFLX traded up $1.62 during trading hours on Wednesday, hitting $361.08. The company had a trading volume of 10,350,078 shares, compared to its average volume of 7,023,976. The company has a market cap of $152.32 billion, a PE ratio of 134.73, a PEG ratio of 2.92 and a beta of 1.36. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $423.21.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, beating the consensus estimate of $0.57 by $0.19. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 3.98 EPS for the current fiscal year.
A number of research firms recently issued reports on NFLX. Sanford C. Bernstein reissued a “buy” rating and set a $421.00 target price on shares of Netflix in a research note on Tuesday, December 18th. SunTrust Banks reaffirmed a “buy” rating and set a $402.00 price target on shares of Netflix in a research report on Wednesday, March 27th. UBS Group initiated coverage on Netflix in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $350.00 price target for the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $450.00 price target (up previously from $440.00) on shares of Netflix in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “hold” rating on shares of Netflix in a research report on Wednesday. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $383.30.
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Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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