Quarry LP Buys 2,336 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Quarry LP raised its stake in AMC Networks Inc. (NASDAQ:AMCX) by 119.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,295 shares of the company’s stock after acquiring an additional 2,336 shares during the quarter. Quarry LP’s holdings in AMC Networks were worth $41,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMCX. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AMC Networks by 75.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company’s stock worth $106,000 after purchasing an additional 4,735 shares during the period. AQR Capital Management LLC boosted its position in AMC Networks by 72.9% in the second quarter. AQR Capital Management LLC now owns 313,605 shares of the company’s stock valued at $3,029,000 after buying an additional 132,207 shares in the last quarter. Squarepoint Ops LLC boosted its position in AMC Networks by 194.0% in the second quarter. Squarepoint Ops LLC now owns 124,174 shares of the company’s stock valued at $1,200,000 after buying an additional 81,937 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of AMC Networks during the second quarter worth $4,456,000. Finally, Public Sector Pension Investment Board lifted its holdings in shares of AMC Networks by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 68,083 shares of the company’s stock worth $658,000 after purchasing an additional 4,851 shares during the period. 78.51% of the stock is owned by institutional investors.

AMC Networks Price Performance

AMCX stock opened at $8.33 on Friday. The firm has a market cap of $362.87 million, a price-to-earnings ratio of 2.33 and a beta of 1.28. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17. AMC Networks Inc. has a 12-month low of $7.08 and a 12-month high of $20.97. The company’s fifty day simple moving average is $9.37 and its 200 day simple moving average is $11.37.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, August 9th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.28). The firm had revenue of $625.90 million during the quarter, compared to analyst estimates of $601.41 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. AMC Networks’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, analysts expect that AMC Networks Inc. will post 4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Wells Fargo & Company cut their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.00.

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.