Is AMC Networks Inc (AMCX) A Good Stock To Buy?

As aggregate interest increased, specific money managers have been driving this bullishness. Select Equity Group, managed by Robert Joseph Caruso, assembled the most valuable position in AMC Networks Inc (NASDAQ:AMCX). Select Equity Group had $22.1 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $12.6 million investment in the stock during the quarter. The other funds with brand new AMCX positions are Neil Chriss’s Hutchin Hill Capital, Brandon Osten’s Venator Capital Management, and Paul Hondros’s AlphaOne Capital Partners.

Let’s go over hedge fund activity in other stocks similar to AMC Networks Inc (NASDAQ:AMCX). We will take a look at Cytec Industries Inc (NYSE:CYT), Liberty Broadband Corp (NASDAQ:LBRDK), Assurant, Inc. (NYSE:AIZ), and Calpine Corporation (NYSE:CPN). This group of stocks’ market valuations are closest to AMCX’s market valuation.

As you can see these stocks had an average of 30 hedge funds with bullish positions and the average amount invested in these stocks was $789 million. That figure was $471 million in AMCX’s case. Calpine Corporation (NYSE:CPN) is the most popular stock in this table. On the other hand, Assurant, Inc. (NYSE:AIZ) is the least popular one with only 20 bullish hedge fund positions. AMC Networks Inc (NASDAQ:AMCX), with 24 bullish hedge fund positions, is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal, and we’d rather spend our time focusing on stocks that hedge funds are most collectively bullish on. In this regard, CPN might be a better alternative.