AMC Networks Inc. $AMCX Shares Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC significantly increased its stake in AMC Networks Inc. by 105.5%, owning 67,051 shares after acquiring 34,419 additional shares during the first quarter.
• AMC Networks reported a Q2 EPS of $0.69, surpassing estimates of $0.54, despite a 4.1% decline in revenue year-over-year, amounting to $600.02 million.
• Analysts have mixed opinions on the stock, with one upgrade to "buy" while four ratings suggest a "sell", indicating current market uncertainty about AMC Networks' prospects.

PDT Partners LLC lifted its position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) by 105.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,051 shares of the company's stock after buying an additional 34,419 shares during the quarter. PDT Partners LLC owned approximately 0.15% of AMC Networks worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of AMC Networks by 44.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 396,710 shares of the company's stock worth $2,721,000 after buying an additional 121,844 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of AMC Networks by 115.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 23,057 shares of the company's stock worth $159,000 after buying an additional 12,365 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in AMC Networks in the 4th quarter valued at about $779,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in AMC Networks in the 4th quarter valued at about $546,000. Finally, Y Intercept Hong Kong Ltd raised its stake in AMC Networks by 570.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company's stock valued at $625,000 after purchasing an additional 77,350 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMCX shares. Wall Street Zen raised shares of AMC Networks from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company reissued an "underweight" rating on shares of AMC Networks in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $5.38.

AMC Networks Trading Down 3.4%

Shares of AMCX stock traded down $0.26 during trading hours on Wednesday, hitting $7.49. 149,709 shares of the company were exchanged, compared to its average volume of 567,232. The firm has a market cap of $324.92 million, a PE ratio of -1.71 and a beta of 1.40. AMC Networks Inc. has a 1 year low of $5.41 and a 1 year high of $10.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 2.11. The firm has a fifty day moving average of $6.57 and a 200 day moving average of $6.53.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.15. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The business had revenue of $600.02 million for the quarter, compared to analyst estimates of $582.99 million. During the same period in the prior year, the firm posted $1.24 EPS. The company's revenue was down 4.1% on a year-over-year basis. AMC Networks has set its FY 2025 guidance at EPS. Analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current year.

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.