Cubist Systematic Strategies LLC Sells 237,168 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Cubist Systematic Strategies LLC lessened its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 51.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 224,156 shares of the company’s stock after selling 237,168 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.51% of AMC Networks worth $2,219,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares during the last quarter. R Squared Ltd bought a new position in shares of AMC Networks in the 4th quarter valued at about $59,000. Federated Hermes Inc. boosted its stake in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after purchasing an additional 1,918 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of AMC Networks in the 4th quarter valued at about $106,000. Finally, Y Intercept Hong Kong Ltd bought a new position in AMC Networks during the 4th quarter worth approximately $134,000. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

Shares of AMCX opened at $6.33 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. AMC Networks Inc. has a twelve month low of $5.41 and a twelve month high of $18.58. The firm’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $8.19. The firm has a market cap of $279.38 million, a P/E ratio of -1.21 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $555.23 million during the quarter, compared to the consensus estimate of $567.23 million. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMCX shares. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley reduced their price objective on shares of AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group reduced their price objective on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, April 15th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

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 that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. The trade was a 88.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 15.62% of the company’s stock.

AMC Networks Company 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.