Point72 Asset Management L.P. Makes New $779,000 Investment in AMC Networks Inc. (NASDAQ:AMCX)

Point72 Asset Management L.P. purchased a new position in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 78,664 shares of the company's stock, valued at approximately $779,000. Point72 Asset Management L.P. owned about 0.18% of AMC Networks at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after buying an additional 1,097 shares during the period. R Squared Ltd acquired a new stake in shares of AMC Networks during the fourth quarter valued at about $59,000. Federated Hermes Inc. raised its stake in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after acquiring an additional 1,918 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of AMC Networks in the 4th quarter worth approximately $106,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of AMC Networks by 20.7% in the 4th quarter. Quantinno Capital Management LP now owns 12,255 shares of the company's stock worth $121,000 after acquiring an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

AMC Networks Stock Down 1.1%

Shares of NASDAQ:AMCX traded down $0.07 during trading on Monday, hitting $6.20. The company's stock had a trading volume of 547,990 shares, compared to its average volume of 981,120. AMC Networks Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $18.58. The business has a 50 day moving average price of $6.37 and a two-hundred day moving average price of $8.05. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $278.55 million, a PE ratio of -1.18 and a beta of 1.43.

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

Insider Activity

In related 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 completion of the sale, the insider now owns 20,833 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.62% of the company's stock.

Wall Street Analyst Weigh In

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