RWWM Inc. Increases Stock Holdings in AMC Networks Inc. (NASDAQ:AMCX)

RWWM Inc. raised its stake in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 74.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,712,921 shares of the company's stock after purchasing an additional 1,156,267 shares during the period. AMC Networks comprises 1.5% of RWWM Inc.'s investment portfolio, making the stock its 12th biggest position. RWWM Inc. owned approximately 6.15% of AMC Networks worth $18,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. grew 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 worth $16,066,000 after purchasing an additional 1,248,571 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of AMC Networks in the 4th quarter valued at about $5,359,000. Janus Henderson Group PLC increased its position in AMC Networks by 2,483.1% during the fourth quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after buying an additional 297,124 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in AMC Networks by 22.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock valued at $14,505,000 after buying an additional 267,044 shares during the last quarter. Finally, CastleKnight Management LP boosted its holdings in shares of AMC Networks by 202.8% in the fourth quarter. CastleKnight Management LP now owns 270,100 shares of the company's stock valued at $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.

Analyst Ratings Changes

Several brokerages have issued reports on AMCX. Morgan Stanley lowered their price objective on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their target price on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Wells Fargo & Company dropped their target price on AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded shares of AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, UBS Group dropped their price objective 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. Four research analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.38.

AMC Networks Price Performance

AMCX stock traded up $0.04 on Monday, reaching $6.28. 95,370 shares of the company's stock were exchanged, compared to its average volume of 971,697. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $13.50. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. The stock has a fifty day moving average of $6.33 and a 200-day moving average of $7.77. The firm has a market cap of $281.92 million, a PE ratio of -1.19 and a beta of 1.38.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly 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). The company had revenue of $555.23 million during the quarter, compared to analysts' expectations of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. During the same quarter in the prior year, the business earned $1.16 EPS. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts predict that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

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.