AMC Networks Target of Unusually Large Options Trading (AMCX)
AMC Networks Inc. (NASDAQ:AMCX) was the target of some unusual options trading on Thursday. Investors acquired 1,175 put options on the stock. This represents an increase of approximately 1,510% compared to the average daily volume of 73 put options.
Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. lifted its stake in AMC Networks by 24.4% in the 2nd quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after acquiring an additional 414 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in AMC Networks by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in AMC Networks in the 2nd quarter worth about $153,000. Riverhead Capital Management LLC lifted its stake in AMC Networks by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after acquiring an additional 1,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in AMC Networks by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after acquiring an additional 88 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.
Shares of AMC Networks (AMCX) opened at $52.33 on Friday. The stock has a market capitalization of $3,240.00, a PE ratio of 10.32, a P/E/G ratio of 0.97 and a beta of 1.10. The company has a debt-to-equity ratio of 37.53, a current ratio of 2.57 and a quick ratio of 2.57. AMC Networks has a one year low of $46.89 and a one year high of $67.61.
AMCX has been the subject of several research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. TheStreet lowered AMC Networks from a “b-” rating to a “c” rating in a report on Tuesday, November 14th. Morgan Stanley cut their price objective on AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Cowen restated a “hold” rating and issued a $53.00 price objective on shares of AMC Networks in a report on Thursday, September 21st. Finally, Jefferies Group cut their price objective on AMC Networks from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.42.
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About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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