Readystate Asset Management LP Invests $711,000 in AMC Networks Inc. (NASDAQ:AMCX)

Readystate Asset Management LP purchased a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 81,815 shares of the company’s stock, valued at approximately $711,000. Readystate Asset Management LP owned approximately 0.19% of AMC Networks at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of AMC Networks by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company’s stock valued at $520,000 after acquiring an additional 1,434 shares during the period. Exchange Traded Concepts LLC increased its position in shares of AMC Networks by 6.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock valued at $302,000 after acquiring an additional 2,150 shares during the period. Quarry LP increased its position in shares of AMC Networks by 119.2% in the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock valued at $41,000 after acquiring an additional 2,336 shares during the period. Entropy Technologies LP boosted its holdings in AMC Networks by 24.2% in the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock valued at $125,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in AMC Networks by 10.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 35,841 shares of the company’s stock valued at $346,000 after purchasing an additional 3,322 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMCX shares. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley reduced their price target on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.50.

AMC Networks Stock Down 1.5 %

AMCX opened at $9.15 on Friday. AMC Networks Inc. has a twelve month low of $7.08 and a twelve month high of $20.97. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $8.60 and a 200 day moving average price of $10.32. The company has a market cap of $403.70 million, a PE ratio of 14.52 and a beta of 1.34.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.29. The firm had revenue of $599.60 million during the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. Sell-side analysts expect that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

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.