AMC Networks Inc. (AMCX) Shares Bought by SG Americas Securities LLC
SG Americas Securities LLC boosted its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 23.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,608 shares of the company’s stock after buying an additional 3,894 shares during the period. SG Americas Securities LLC’s holdings in AMC Networks were worth $1,101,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMCX. Oppenheimer Asset Management Inc. purchased a new position in AMC Networks during the first quarter worth about $194,000. World Asset Management Inc raised its position in AMC Networks by 0.3% in the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock worth $212,000 after buying an additional 12 shares during the last quarter. Wrapmanager Inc. raised its position in AMC Networks by 3.2% in the second quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock worth $219,000 after buying an additional 128 shares during the last quarter. Greenwood Capital Associates LLC raised its position in AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock worth $234,000 after buying an additional 167 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in AMC Networks by 15.0% in the second quarter. LS Investment Advisors LLC now owns 4,376 shares of the company’s stock worth $234,000 after buying an additional 572 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.
AMC Networks Inc. (AMCX) opened at 60.71 on Friday. The company has a market capitalization of $3.86 billion, a P/E ratio of 13.26 and a beta of 1.10. The stock’s 50 day moving average is $61.26 and its 200-day moving average is $57.82. AMC Networks Inc. has a 12-month low of $46.17 and a 12-month high of $67.61.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $715.23 million. During the same period in the prior year, the company posted $1.15 earnings per share. AMC Networks’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that AMC Networks Inc. will post $6.67 earnings per share for the current fiscal year.
AMC Networks announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts recently issued reports on the stock. Moffett Nathanson reiterated a “sell” rating on shares of AMC Networks in a research note on Friday, June 9th. Zacks Investment Research lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 target price (up from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Finally, TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target 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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