AMC Networks Inc. (AMCX) Shares Sold by First Quadrant L P CA
First Quadrant L P CA lowered its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,155 shares of the company’s stock after selling 19,642 shares during the period. First Quadrant L P CA owned approximately 0.33% of AMC Networks worth $11,812,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of AMCX. Dimensional Fund Advisors LP increased its position in shares of AMC Networks by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 275,966 shares of the company’s stock worth $14,445,000 after buying an additional 783 shares during the period. Stephens Inc. AR bought a new position in shares of AMC Networks during the first quarter worth $471,000. Oppenheimer & Co. Inc. increased its position in shares of AMC Networks by 31.9% in the first quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock worth $557,000 after buying an additional 2,300 shares during the period. Norges Bank bought a new position in shares of AMC Networks during the fourth quarter worth $29,945,000. Finally, World Asset Management Inc bought a new position in shares of AMC Networks during the first quarter worth $232,000. Institutional investors own 82.10% of the company’s stock.
AMC Networks Inc. (AMCX) traded up 1.11% during midday trading on Friday, hitting $61.78. 140,072 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 stock has a 50-day moving average of $55.15 and a 200 day moving average of $56.59. The firm has a market cap of $4.11 billion, a PE ratio of 15.01 and a beta of 1.03.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.10. AMC Networks had a net margin of 10.59% and a return on equity of 502.40%. The firm had revenue of $720.19 million during the quarter, compared to analyst estimates of $720.15 million. During the same quarter in the prior year, the firm posted $2.09 earnings per share. AMC Networks’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that AMC Networks Inc. will post $6.40 EPS for the current year.
AMC Networks declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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A number of research analysts recently weighed in on AMCX shares. BidaskClub upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG lowered their price objective on shares of AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, April 25th. Finally, ValuEngine downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. AMC Networks has a consensus rating of “Hold” and an average price target of $61.79.
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.
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