Cubist Systematic Strategies LLC Cuts Position in AMC Networks Inc. (AMCX)

Cubist Systematic Strategies LLC lessened its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,671 shares of the company’s stock after selling 5,721 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in AMC Networks were worth $741,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Investec Asset Management LTD boosted its position in AMC Networks by 45.0% in the 3rd quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock worth $105,209,000 after purchasing an additional 558,579 shares in the last quarter. FMR LLC boosted its position in AMC Networks by 9.9% in the 2nd quarter. FMR LLC now owns 1,172,084 shares of the company’s stock worth $62,601,000 after purchasing an additional 105,290 shares in the last quarter. AJO LP boosted its position in AMC Networks by 121.4% in the 2nd quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after purchasing an additional 546,211 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AMC Networks by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 778,748 shares of the company’s stock worth $45,533,000 after purchasing an additional 53,278 shares in the last quarter. Finally, LSV Asset Management boosted its position in AMC Networks by 284.0% in the 2nd quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after purchasing an additional 533,360 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Several equities research analysts have commented on AMCX shares. ValuEngine upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. TheStreet lowered AMC Networks from a “b-” rating to a “c” rating in a research report on Tuesday, November 14th. Morgan Stanley lowered their price objective on AMC Networks from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 31st. Jefferies Group lowered their price objective on AMC Networks from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Finally, Loop Capital lowered their price objective on AMC Networks from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $61.73.

AMC Networks Inc. (AMCX) opened at $56.22 on Friday. AMC Networks Inc. has a 52-week low of $46.89 and a 52-week high of $67.61. The stock has a market capitalization of $3,420.00, a P/E ratio of 11.09, a PEG ratio of 1.07 and a beta of 1.10. The company has a debt-to-equity ratio of 37.53, a quick ratio of 2.57 and a current ratio of 2.57.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, November 2nd. The company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.53. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The firm had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. During the same quarter last year, the firm posted $1.11 EPS. The business’s revenue was up 2.1% on a year-over-year basis. analysts expect that AMC Networks Inc. will post 7.01 earnings per share for the current fiscal year.

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AMC Networks Profile

AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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