AMC Networks Inc. (AMCX) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in AMC Networks Inc. (NASDAQ:AMCX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,133 shares of the company’s stock after buying an additional 392 shares during the period. Retirement Systems of Alabama’s holdings in AMC Networks were worth $11,790,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of AMCX. Renaissance Technologies LLC acquired a new stake in AMC Networks during the first quarter valued at approximately $27,119,000. BlackRock Institutional Trust Company N.A. raised its stake in AMC Networks by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,033,378 shares of the company’s stock valued at $132,048,000 after buying an additional 294,128 shares during the last quarter. Prudential Financial Inc. raised its stake in AMC Networks by 628.0% in the first quarter. Prudential Financial Inc. now owns 300,473 shares of the company’s stock valued at $19,513,000 after buying an additional 259,200 shares during the last quarter. Lazard Asset Management LLC raised its stake in AMC Networks by 759.8% in the first quarter. Lazard Asset Management LLC now owns 293,242 shares of the company’s stock valued at $19,043,000 after buying an additional 259,137 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in AMC Networks by 16.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,144,478 shares of the company’s stock valued at $74,322,000 after buying an additional 165,047 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
AMC Networks Inc. (NASDAQ:AMCX) traded up 0.21% on Tuesday, hitting $52.38. The stock had a trading volume of 491,032 shares. The company has a market cap of $3.74 billion, a PE 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 company has a 50-day moving average of $53.16 and a 200 day moving average of $59.42.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.28. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. On average, analysts predict that AMC Networks Inc. will post $5.57 EPS for the current fiscal year.
AMCX has been the subject of several research reports. Morgan Stanley lowered shares of AMC Networks from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Albert Fried & Company reaffirmed a “buy” rating and set a $76.00 price target on shares of AMC Networks in a research report on Sunday, September 25th. Zacks Investment Research raised shares of AMC Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Loop Capital initiated coverage on shares of AMC Networks in a research report on Tuesday, August 9th. They set a “hold” rating for the company. Finally, Stifel Nicolaus lowered shares of AMC Networks from a “buy” rating to a “hold” rating and reduced their price target for the company from $70.00 to $60.00 in a research report on Thursday, September 15th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price 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.
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