Readystate Asset Management LP Invests $880,000 in AMC Networks Inc. (NASDAQ:AMCX)

Readystate Asset Management LP purchased a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,836 shares of the company’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in shares of AMC Networks by 164.5% during the 3rd quarter. Barclays PLC now owns 41,906 shares of the company’s stock worth $495,000 after buying an additional 26,061 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AMC Networks by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock worth $41,145,000 after buying an additional 30,721 shares during the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of AMC Networks during the 3rd quarter worth $3,957,000. Assenagon Asset Management S.A. raised its stake in shares of AMC Networks by 152.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock worth $750,000 after buying an additional 24,085 shares during the last quarter. Finally, RWWM Inc. acquired a new position in shares of AMC Networks during the 3rd quarter worth $2,068,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AMCX shares. Morgan Stanley lowered their price target on AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Monday, February 12th. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Finally, TheStreet upgraded AMC Networks from a “d+” rating to a “c-” rating in a report on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.75.

AMC Networks Trading Up 3.4 %

Shares of NASDAQ:AMCX traded up $0.35 during trading on Thursday, reaching $10.60. 628,217 shares of the stock were exchanged, compared to its average volume of 622,248. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.72 and a current ratio of 1.72. AMC Networks Inc. has a 12-month low of $9.87 and a 12-month high of $20.97. The firm has a market cap of $461.74 million, a price-to-earnings ratio of 2.16 and a beta of 1.21. The firm’s 50-day moving average price is $12.29 and its 200 day moving average price is $14.65.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, February 9th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. AMC Networks had a return on equity of 30.42% and a net margin of 7.95%. The business had revenue of $678.80 million during the quarter, compared to analysts’ expectations of $675.97 million. During the same quarter in the previous year, the business earned $2.52 EPS. The company’s revenue for the quarter was down 29.6% on a year-over-year basis. On average, sell-side analysts anticipate that AMC Networks Inc. will post 5.7 earnings per share for the current fiscal 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.