Cubist Systematic Strategies LLC Has $2.22 Million Stake in AMC Networks Inc. (NASDAQ:AMCX)

Cubist Systematic Strategies LLC decreased its stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 51.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,156 shares of the company's stock after selling 237,168 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.51% of AMC Networks worth $2,219,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AMCX. JPMorgan Chase & Co. raised its holdings in shares of AMC Networks by 333.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock valued at $16,066,000 after purchasing an additional 1,248,571 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of AMC Networks during the fourth quarter worth $5,359,000. RWWM Inc. lifted its position in AMC Networks by 20.6% during the fourth quarter. RWWM Inc. now owns 1,556,654 shares of the company's stock valued at $15,411,000 after purchasing an additional 266,322 shares during the last quarter. CastleKnight Management LP lifted its position in AMC Networks by 202.8% during the fourth quarter. CastleKnight Management LP now owns 270,100 shares of the company's stock valued at $2,674,000 after purchasing an additional 180,889 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of AMC Networks by 30.2% in the fourth quarter. AQR Capital Management LLC now owns 765,298 shares of the company's stock valued at $7,576,000 after acquiring an additional 177,368 shares during the period. Institutional investors own 78.51% of the company's stock.

AMC Networks Stock Up 4.6%

Shares of AMCX stock traded up $0.28 during mid-day trading on Thursday, reaching $6.42. 546,210 shares of the company were exchanged, compared to its average volume of 989,527. The company has a market capitalization of $283.35 million, a P/E ratio of -1.22 and a beta of 1.43. The business's 50 day simple moving average is $6.47 and its 200 day simple moving average is $8.15. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. AMC Networks Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $18.58.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.21). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company had revenue of $555.23 million during the quarter, compared to the consensus estimate of $567.23 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. The business's quarterly revenue was down 6.9% compared to the same quarter last year. Research analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMCX shares. StockNews.com raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday. UBS Group decreased their price target on shares of AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on shares of AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price objective on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley reduced their price objective on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating for the company in a research report on Monday. Four investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AMC Networks presently has a consensus rating of "Hold" and a consensus target price of $5.38.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the sale, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. The trade was a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.62% of the stock is owned by corporate 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.