AMC Networks Inc. (AMCX) Shares Sold by Airain ltd
Airain ltd lowered its position in AMC Networks Inc. (NASDAQ:AMCX) by 44.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,653 shares of the company’s stock after selling 22,711 shares during the period. Airain ltd’s holdings in AMC Networks were worth $1,530,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC raised its stake in AMC Networks by 1.1% in the first quarter. Clearbridge Investments LLC now owns 8,589,302 shares of the company’s stock worth $504,020,000 after buying an additional 94,999 shares during the period. BlackRock Inc. raised its stake in AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after buying an additional 4,922,108 shares during the period. Vanguard Group Inc. raised its stake in AMC Networks by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,553,340 shares of the company’s stock worth $267,189,000 after buying an additional 102,284 shares during the period. Pinnacle Associates Ltd. raised its stake in AMC Networks by 5.5% in the first quarter. Pinnacle Associates Ltd. now owns 844,704 shares of the company’s stock worth $49,567,000 after buying an additional 44,334 shares during the period. Finally, Omega Advisors Inc. acquired a new stake in AMC Networks during the first quarter worth approximately $48,850,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
AMC Networks Inc. (AMCX) opened at 60.78 on Friday. The firm has a market cap of $3.86 billion, a P/E ratio of 13.28 and a beta of 1.06. AMC Networks Inc. has a 1-year low of $46.17 and a 1-year high of $67.61. The stock has a 50 day moving average price of $61.13 and a 200-day moving average price of $57.79.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping the 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 company had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. During the same quarter in the previous year, the firm posted $1.15 earnings per share. AMC Networks’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that AMC Networks Inc. will post $6.67 EPS for the current year.
AMC Networks declared that its board has initiated a stock repurchase plan on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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AMCX has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and set a $60.00 price target on shares of AMC Networks in a research report on Monday, July 10th. Deutsche Bank AG decreased their price target on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. ValuEngine lowered AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Thursday, July 13th. Finally, BidaskClub raised AMC Networks from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.25.
AMC Networks Company Profile
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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