AMC Networks Inc. (NASDAQ:AMCX) Shares Purchased by Readystate Asset Management LP

Readystate Asset Management LP lifted its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 352.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 405,383 shares of the company's stock after purchasing an additional 315,787 shares during the quarter. Readystate Asset Management LP owned about 0.92% of AMC Networks worth $2,789,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AMCX. JPMorgan Chase & Co. grew its holdings in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after purchasing an additional 1,248,571 shares during the period. RWWM Inc. boosted its holdings in AMC Networks by 74.3% in the 1st quarter. RWWM Inc. now owns 2,712,921 shares of the company's stock worth $18,665,000 after acquiring an additional 1,156,267 shares during the period. Janus Henderson Group PLC boosted its holdings in AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after acquiring an additional 297,124 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in AMC Networks by 22.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock worth $14,505,000 after acquiring an additional 267,044 shares during the period. Finally, CastleKnight Management LP boosted its holdings in AMC Networks by 202.8% in the 4th quarter. CastleKnight Management LP now owns 270,100 shares of the company's stock worth $2,674,000 after acquiring an additional 180,889 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

AMC Networks Stock Down 2.5%

Shares of AMCX traded down $0.16 during trading on Friday, reaching $6.34. The company's stock had a trading volume of 300,951 shares, compared to its average volume of 376,850. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 2.42. The company has a market cap of $284.86 million, a price-to-earnings ratio of -1.07 and a beta of 1.36. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $11.57. The company has a fifty day moving average of $6.30 and a two-hundred day moving average of $7.09.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a negative net margin of 10.68% and a positive return on equity of 17.26%. The firm had revenue of $555.23 million for the quarter, compared to analyst estimates of $567.23 million. During the same period in the prior year, the company posted $1.16 earnings per share. The business's revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts predict that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group decreased their price target on AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Wall Street Zen raised AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Finally, Morgan Stanley cut their target price on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Four analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.38.

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.