Point72 Asia Singapore Pte. Ltd. Makes New $444,000 Investment in AMC Networks Inc. (NASDAQ:AMCX)

Point72 Asia Singapore Pte. Ltd. bought a new stake in AMC Networks Inc. (NASDAQ:AMCX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 51,132 shares of the company’s stock, valued at approximately $444,000. Point72 Asia Singapore Pte. Ltd. owned about 0.12% of AMC Networks as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Quarry LP increased its position in 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. Innealta Capital LLC acquired a new position in shares of AMC Networks in the second quarter valued at approximately $48,000. nVerses Capital LLC purchased a new stake in shares of AMC Networks during the third quarter worth approximately $55,000. FORA Capital LLC acquired a new stake in shares of AMC Networks during the third quarter worth $89,000. Finally, Martingale Asset Management L P purchased a new position in AMC Networks in the 3rd quarter valued at $95,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Stock Performance

Shares of AMCX opened at $9.71 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. AMC Networks Inc. has a 52-week low of $7.08 and a 52-week high of $20.97. The company has a 50-day simple moving average of $8.47 and a 200-day simple moving average of $10.43. The company has a market capitalization of $428.41 million, a PE ratio of 15.05 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The company had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Equities research analysts predict that AMC Networks Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.