Wells Fargo & Company MN lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 332,475 shares of the company’s stock after buying an additional 2,735 shares during the period. Wells Fargo & Company MN owned about 0.50% of AMC Networks worth $17,758,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMC Networks by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after buying an additional 181 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of AMC Networks during the 1st quarter worth about $194,000. World Asset Management Inc acquired a new position in shares of AMC Networks during the 1st quarter worth about $232,000. Wrapmanager Inc. boosted its stake in shares of AMC Networks by 3.2% during the 2nd 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. Finally, LS Investment Advisors LLC boosted its stake in shares of AMC Networks by 15.0% during the 2nd 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 own 84.98% of the company’s stock.

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A number of research firms have recently commented on AMCX. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $65.00 price objective (up from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Cowen and Company restated a “hold” rating and set a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.82.

AMC Networks Inc. (NASDAQ:AMCX) opened at 59.05 on Thursday. The company has a market capitalization of $3.75 billion, a PE ratio of 12.90 and a beta of 1.09. The firm has a 50-day moving average of $60.06 and a 200 day moving average of $57.73. 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 earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.47. The firm had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share. Analysts forecast that AMC Networks Inc. will post $6.65 EPS for the current fiscal year.

AMC Networks declared that its board has authorized a share buyback plan on Wednesday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase 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.

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.

Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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