PDT Partners LLC Takes $323,000 Position in AMC Networks Inc. (NASDAQ:AMCX)

PDT Partners LLC acquired a new position in AMC Networks Inc. (NASDAQ:AMCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,632 shares of the company’s stock, valued at approximately $323,000. PDT Partners LLC owned 0.07% of AMC Networks as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AMCX. AQR Capital Management LLC grew its position in shares of AMC Networks by 30.2% during the fourth quarter. AQR Capital Management LLC now owns 765,298 shares of the company’s stock worth $7,576,000 after purchasing an additional 177,368 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of AMC Networks by 430.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 128,326 shares of the company’s stock worth $1,270,000 after buying an additional 104,115 shares during the period. Boothbay Fund Management LLC increased its stake in AMC Networks by 302.2% in the fourth quarter. Boothbay Fund Management LLC now owns 22,888 shares of the company’s stock worth $227,000 after purchasing an additional 34,208 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in AMC Networks during the 4th quarter valued at about $1,515,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of AMC Networks during the fourth quarter valued at approximately $574,000. Institutional investors own 78.51% of the company’s stock.

Analysts Set New Price Targets

AMCX has been the subject of several research reports. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company cut their price target on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reduced their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. UBS Group reduced their price objective on AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the transaction, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. This represents a 88.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.87% of the company’s stock.

AMC Networks Trading Down 0.8 %

AMCX stock opened at $6.25 on Friday. The business’s 50-day moving average is $6.61 and its 200 day moving average is $8.24. AMC Networks Inc. has a 12-month low of $5.41 and a 12-month high of $18.58. The stock has a market cap of $275.85 million, a price-to-earnings ratio of -1.19 and a beta of 1.28. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). The business had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, sell-side analysts anticipate that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

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.