Readystate Asset Management LP Invests $711,000 in AMC Networks Inc. (NASDAQ:AMCX)

Readystate Asset Management LP acquired a new stake in shares of AMC Networks Inc. (NASDAQ:AMCX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 81,815 shares of the company's stock, valued at approximately $711,000. Readystate Asset Management LP owned about 0.19% of AMC Networks as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AMCX. Price T Rowe Associates Inc. MD increased its stake in shares of AMC Networks by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company's stock valued at $520,000 after purchasing an additional 1,434 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of AMC Networks by 10.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 35,841 shares of the company's stock valued at $346,000 after purchasing an additional 3,322 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of AMC Networks by 234.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company's stock valued at $2,693,000 after purchasing an additional 195,444 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of AMC Networks in the 2nd quarter valued at about $125,000. Finally, Innealta Capital LLC purchased a new position in shares of AMC Networks in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 78.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com upgraded AMC Networks from a "hold" rating to a "buy" rating in a report on Monday, November 11th. 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. Wells Fargo & Company lowered their price objective on AMC Networks from $11.00 to $8.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Finally, Seaport Res Ptn upgraded AMC Networks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. Two research 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.50.

AMC Networks Price Performance

AMCX stock traded up $0.24 during trading on Friday, hitting $9.39. The stock had a trading volume of 639,672 shares, compared to its average volume of 1,039,386. The stock has a market capitalization of $414.30 million, a P/E ratio of 14.90 and a beta of 1.34. The company's 50-day moving average price is $8.63 and its two-hundred day moving average price is $10.28. AMC Networks Inc. has a twelve month low of $7.08 and a twelve month high of $20.97. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32.

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