Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,043 shares of the company’s stock after selling 174 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in AMC Networks were worth $430,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in shares of AMC Networks by 138.5% during the 2nd quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock worth $18,031,000 after purchasing an additional 196,030 shares during the period. Stephens Inc. AR purchased a new position in shares of AMC Networks during the 1st quarter worth about $471,000. Oppenheimer & Co. Inc. boosted its stake in shares of AMC Networks by 31.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock worth $557,000 after purchasing an additional 2,300 shares during the period. Morgan Stanley boosted its stake in shares of AMC Networks by 73.9% during the 1st quarter. Morgan Stanley now owns 509,073 shares of the company’s stock worth $29,873,000 after purchasing an additional 216,261 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of AMC Networks by 353.3% during the 2nd quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock worth $3,234,000 after purchasing an additional 47,189 shares during the period. 84.98% of the stock is owned by hedge funds and other institutional investors.
Shares of AMC Networks Inc. (NASDAQ AMCX) opened at 58.94 on Friday. AMC Networks Inc. has a 12-month low of $46.17 and a 12-month high of $67.61. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 12.88 and a beta of 1.09. The stock has a 50 day moving average of $60.06 and a 200 day moving average of $57.73.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The business had revenue of $710.55 million during the quarter, compared to analyst estimates of $715.23 million. During the same quarter last year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts forecast that AMC Networks Inc. will post $6.65 earnings per share for the current year.
AMC Networks declared that its board has approved a stock buyback plan on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
AMCX has been the subject of a number of recent analyst reports. BidaskClub raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Thursday, July 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Moffett Nathanson reiterated a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $58.25.
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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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