AMC Networks Inc. (AMCX) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama increased its stake in AMC Networks Inc. (NASDAQ:AMCX) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,133 shares of the company’s stock after buying an additional 392 shares during the period. Retirement Systems of Alabama owned approximately 0.27% of AMC Networks worth $11,790,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its position in shares of AMC Networks by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 26,593 shares of the company’s stock valued at $1,727,000 after buying an additional 94 shares in the last quarter. M&T Bank Corp raised its position in shares of AMC Networks by 2.7% in the first quarter. M&T Bank Corp now owns 5,742 shares of the company’s stock valued at $374,000 after buying an additional 151 shares in the last quarter. Wrapmanager Inc. raised its position in shares of AMC Networks by 6.2% in the first quarter. Wrapmanager Inc. now owns 3,543 shares of the company’s stock valued at $230,000 after buying an additional 206 shares in the last quarter. Creative Planning raised its position in shares of AMC Networks by 5.9% in the second quarter. Creative Planning now owns 9,893 shares of the company’s stock valued at $598,000 after buying an additional 549 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of AMC Networks by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 155,547 shares of the company’s stock valued at $9,398,000 after buying an additional 650 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMC Networks Inc. (NASDAQ:AMCX) traded up 0.21% during trading on Tuesday, reaching $52.38. 491,032 shares of the company’s stock were exchanged. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 10.91 and a beta of 0.84. AMC Networks Inc. has a 12 month low of $49.93 and a 12 month high of $83.78. The stock has a 50-day moving average price of $53.16 and a 200 day moving average price of $59.42.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business earned $685 million during the quarter, compared to analyst estimates of $676.87 million. During the same quarter in the previous year, the firm earned $1.14 EPS. AMC Networks’s revenue was up 14.0% on a year-over-year basis. On average, analysts forecast that AMC Networks Inc. will post $5.57 EPS for the current year.
Several research analysts recently issued reports on the stock. Credit Agricole SA set a $89.00 target price on shares of AMC Networks and gave the stock a “buy” rating in a research note on Saturday, September 17th. Jefferies Group restated a “hold” rating on shares of AMC Networks in a report on Monday, September 12th. Zacks Investment Research downgraded shares of AMC Networks from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Morgan Stanley downgraded shares of AMC Networks from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $78.00 to $65.00 in a report on Wednesday, June 22nd. Finally, TheStreet downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. AMC Networks has a consensus rating of “Buy” and an average price target of $73.53.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
Receive News & Stock Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related stocks with our FREE daily email newsletter.