Oppenheimer Asset Management Inc. Has $164,000 Stake in AMC Networks Inc. (AMCX)
Oppenheimer Asset Management Inc. reduced its stake in AMC Networks Inc. (NASDAQ:AMCX) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,077 shares of the company’s stock after selling 242 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AMC Networks were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AMC Networks by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after purchasing an additional 181 shares during the period. World Asset Management Inc grew its stake in shares of AMC Networks by 0.3% in the 2nd quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after purchasing an additional 12 shares during the period. Wrapmanager Inc. grew its stake in shares of AMC Networks by 3.2% in the 2nd quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock valued at $219,000 after purchasing an additional 128 shares during the period. LS Investment Advisors LLC grew its stake in shares of AMC Networks by 15.0% in the 2nd quarter. LS Investment Advisors LLC now owns 4,376 shares of the company’s stock valued at $234,000 after purchasing an additional 572 shares during the period. Finally, Oakbrook Investments LLC bought a new stake in shares of AMC Networks in the 2nd quarter valued at approximately $237,000. Institutional investors own 84.98% of the company’s stock.
Several equities research analysts have recently weighed in on AMCX shares. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Thursday, July 13th. BidaskClub upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price objective on shares of AMC Networks in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.82.
AMC Networks Inc. (NASDAQ:AMCX) opened at 59.08 on Friday. The firm’s 50-day moving average price is $60.06 and its 200 day moving average price is $57.73. AMC Networks Inc. has a 12-month low of $46.17 and a 12-month high of $67.61. The firm has a market cap of $3.76 billion, a P/E ratio of 12.91 and a beta of 1.09.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The business had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. During the same quarter in the previous year, the firm earned $1.15 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts forecast that AMC Networks Inc. will post $6.65 earnings per share for the current fiscal year.
AMC Networks declared that its board has approved a stock repurchase program on Wednesday, June 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 13.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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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