Teachers Retirement System of The State of Kentucky cut its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 9.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,470 shares of the company’s stock after selling 1,330 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AMC Networks were worth $732,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMCX. HighTower Advisors LLC boosted its position in AMC Networks by 25.6% in the first quarter. HighTower Advisors LLC now owns 5,450 shares of the company’s stock valued at $323,000 after buying an additional 1,112 shares during the period. Credit Suisse AG boosted its stake in shares of AMC Networks by 3.7% in the first quarter. Credit Suisse AG now owns 74,375 shares of the company’s stock worth $4,364,000 after buying an additional 2,646 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. acquired a new stake in shares of AMC Networks during the first quarter worth $2,083,000. BlueCrest Capital Management Ltd acquired a new stake in shares of AMC Networks during the first quarter worth $724,000. Finally, Bank of America Corp DE boosted its stake in shares of AMC Networks by 2.3% in the first quarter. Bank of America Corp DE now owns 666,620 shares of the company’s stock worth $39,118,000 after buying an additional 15,096 shares during the last quarter. Institutional investors and hedge funds own 82.81% of the company’s stock.
Shares of AMC Networks Inc. (NASDAQ:AMCX) traded down 0.25% on Friday, hitting $60.26. 576,534 shares of the stock traded hands. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61. The firm’s 50 day moving average is $59.87 and its 200 day moving average is $57.52. The firm has a market capitalization of $3.83 billion, a PE ratio of 13.17 and a beta of 1.06.
AMC Networks (NASDAQ:AMCX) last released 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 firm had revenue of $710.55 million for the quarter, compared to the consensus estimate of $715.23 million. During the same period in the previous year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that AMC Networks Inc. will post $6.64 EPS for the current fiscal year.
AMC Networks declared that its board has approved a stock 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 purchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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A number of brokerages recently weighed in on AMCX. Moffett Nathanson restated a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Zacks Investment Research cut shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $65.00 target price (up from $60.00) on shares of AMC Networks in a report 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 research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus 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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