Y Intercept Hong Kong Ltd Buys 77,350 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in AMC Networks Inc. by 570.4%, owning 90,911 shares valued at $625,000 at the end of the first quarter.
• AMC Networks reported a loss in earnings of $0.52 per share for the last quarter, missed analysts' expectations by $0.21, and saw a 6.9% decline in revenue year-over-year.
• Analysts have mixed views on AMC Networks, with four sell ratings and a consensus target price of $5.38, reflecting cautious sentiment in the market.

Y Intercept Hong Kong Ltd increased its position in AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 570.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,911 shares of the company's stock after buying an additional 77,350 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.21% of AMC Networks worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in AMC Networks by 333.7% during the 4th 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 period. RWWM Inc. increased its position in shares of AMC Networks by 74.3% during the first quarter. RWWM Inc. now owns 2,712,921 shares of the company's stock worth $18,665,000 after buying an additional 1,156,267 shares during the period. Janus Henderson Group PLC increased its position in shares of 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. increased its position in shares of AMC Networks by 22.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock worth $14,505,000 after buying an additional 267,044 shares during the period. Finally, CastleKnight Management LP increased its position in shares of AMC Networks by 202.8% during the fourth quarter. CastleKnight Management LP now owns 270,100 shares of the company's stock worth $2,674,000 after buying an additional 180,889 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

Analysts Set New Price Targets

AMCX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, May 12th. Morgan Stanley cut their price target on AMC Networks from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company cut 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 AMC Networks from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, UBS Group cut their target price on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Four 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.38.

AMC Networks Stock Down 0.8%

NASDAQ AMCX traded down $0.05 on Wednesday, reaching $5.94. The company had a trading volume of 590,718 shares, compared to its average volume of 360,789. The stock has a market capitalization of $266.88 million, a P/E ratio of -1.00 and a beta of 1.36. The company's fifty day moving average is $6.29 and its 200 day moving average is $7.03. AMC Networks Inc. has a 52-week low of $5.41 and a 52-week high of $11.57. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 2.42.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.52 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 10.68% and a positive return on equity of 17.26%. The company's quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. Sell-side analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share 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.