Point72 Asset Management L.P. Invests $779,000 in AMC Networks Inc. (NASDAQ:AMCX)

Point72 Asset Management L.P. purchased a new position in AMC Networks Inc. (NASDAQ:AMCX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 78,664 shares of the company’s stock, valued at approximately $779,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of AMC Networks by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,715,833 shares of the company’s stock worth $16,987,000 after purchasing an additional 39,581 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AMC Networks by 333.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock worth $16,066,000 after purchasing an additional 1,248,571 shares during the last quarter. RWWM Inc. boosted its position in shares of AMC Networks by 20.6% in the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock worth $15,411,000 after purchasing an additional 266,322 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of AMC Networks by 22.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock worth $14,505,000 after purchasing an additional 267,044 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of AMC Networks by 3.4% in the 4th quarter. American Century Companies Inc. now owns 824,096 shares of the company’s stock worth $8,159,000 after purchasing an additional 27,273 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the sale, the insider now owns 20,833 shares of the company’s stock, valued at $144,789.35. This trade represents a 88.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 25.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMCX shares. UBS Group reduced their target price on AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Wall Street Zen upgraded AMC Networks from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. Morgan Stanley reduced their target price on AMC Networks from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their target price on AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. Four 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.38.

AMC Networks Stock Performance

AMCX stock opened at $6.27 on Friday. The business’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $8.07. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The firm has a market cap of $281.69 million, a PE ratio of -1.19 and a beta of 1.43. AMC Networks Inc. has a 1-year low of $5.41 and a 1-year high of $18.58.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The firm had revenue of $555.23 million during the quarter, compared to analyst estimates of $567.23 million. During the same period in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, research analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current 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.