DRW Securities LLC Purchases New Position in AMC Networks Inc. (NASDAQ:AMCX)

DRW Securities LLC purchased a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX) in the third quarter, Holdings Channel.com reports. The firm purchased 13,791 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised 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 buying an additional 2,336 shares during the last quarter. Innealta Capital LLC bought a new position in shares of AMC Networks during the second quarter valued at about $48,000. nVerses Capital LLC bought a new position in shares of AMC Networks during the third quarter valued at about $55,000. EMC Capital Management grew its position in AMC Networks by 23.8% in the 1st quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in AMC Networks by 75.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company’s stock valued at $106,000 after buying an additional 4,735 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMCX has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley cut their price target on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Finally, Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.50.

AMC Networks Stock Up 3.4 %

AMCX stock opened at $9.47 on Thursday. The stock has a fifty day moving average of $8.42 and a 200-day moving average of $10.55. AMC Networks Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $20.97. The company has a market capitalization of $417.82 million, a price-to-earnings ratio of 14.54 and a beta of 1.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business earned $1.85 earnings per share. As a group, equities research analysts predict that AMC Networks Inc. will post 4.09 earnings per share for the current year.

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.