Point72 Asia Singapore Pte. Ltd. Acquires New Holdings in AMC Networks Inc. (NASDAQ:AMCX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AMC Networks Inc. (NASDAQ:AMCX) in the third quarter, HoldingsChannel reports. The firm bought 51,132 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors and hedge funds also recently modified their holdings of AMCX. Quarry LP increased its stake in shares of AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after purchasing an additional 2,336 shares in the last quarter. Innealta Capital LLC purchased a new position in AMC Networks during the second quarter worth $48,000. nVerses Capital LLC purchased a new position in AMC Networks during the third quarter worth $55,000. FORA Capital LLC acquired a new position in shares of AMC Networks in the third quarter worth $89,000. Finally, Martingale Asset Management L P purchased a new stake in shares of AMC Networks in the third quarter valued at $95,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Trading Up 3.1 %

NASDAQ AMCX opened at $9.71 on Tuesday. The company has a 50-day moving average of $8.47 and a 200-day moving average of $10.43. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32. AMC Networks Inc. has a 12 month low of $7.08 and a 12 month high of $20.97. The company has a market cap of $428.41 million, a P/E ratio of 15.05 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.91 EPS 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 analyst estimates of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. AMC Networks’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 earnings per share. As a group, equities analysts predict that AMC Networks Inc. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

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

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.