Readystate Asset Management LP Buys Shares of 46,836 AMC Networks Inc. (NASDAQ:AMCX)

Readystate Asset Management LP bought a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,836 shares of the company’s stock, valued at approximately $880,000. Readystate Asset Management LP owned about 0.11% of AMC Networks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMCX. Barclays PLC boosted its position in shares of AMC Networks by 164.5% in the third quarter. Barclays PLC now owns 41,906 shares of the company’s stock worth $495,000 after purchasing an additional 26,061 shares during the period. Vanguard Group Inc. boosted its position in shares of AMC Networks by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock worth $41,145,000 after purchasing an additional 30,721 shares during the period. Smith Graham & Co. Investment Advisors LP bought a new position in shares of AMC Networks in the third quarter worth approximately $3,957,000. Assenagon Asset Management S.A. boosted its position in shares of AMC Networks by 152.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock worth $750,000 after purchasing an additional 24,085 shares during the period. Finally, RWWM Inc. bought a new position in shares of AMC Networks in the third quarter worth approximately $2,068,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Price Performance

Shares of NASDAQ:AMCX traded up $0.35 on Thursday, reaching $10.60. The company’s stock had a trading volume of 628,217 shares, compared to its average volume of 622,248. AMC Networks Inc. has a 52-week low of $9.87 and a 52-week high of $20.97. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.72 and a current ratio of 1.72. The company has a market cap of $461.74 million, a P/E ratio of 2.16 and a beta of 1.21. The company has a 50-day simple moving average of $12.29 and a 200 day simple moving average of $14.65.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. AMC Networks had a net margin of 7.95% and a return on equity of 30.42%. The business had revenue of $678.80 million during the quarter, compared to analyst estimates of $675.97 million. During the same quarter in the previous year, the business posted $2.52 EPS. The company’s quarterly revenue was down 29.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AMC Networks Inc. will post 5.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMCX. Morgan Stanley dropped their target price on shares of AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Monday, February 12th. TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, AMC Networks currently has an average rating of “Hold” and a consensus target price of $11.75.

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.