Zurcher Kantonalbank Zurich Cantonalbank Purchases 181 Shares of AMC Networks Inc. (AMCX)
Zurcher Kantonalbank Zurich Cantonalbank increased its position in AMC Networks Inc. (NASDAQ:AMCX) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,164 shares of the company’s stock after buying an additional 181 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AMC Networks were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in AMC Networks in the 1st quarter worth approximately $194,000. World Asset Management Inc lifted its position in AMC Networks by 0.3% in the 2nd quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock worth $212,000 after buying an additional 12 shares during the last quarter. Wrapmanager Inc. lifted its position in AMC Networks by 3.2% in 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. LS Investment Advisors LLC lifted its position in AMC Networks by 15.0% in 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. Finally, Oakbrook Investments LLC bought a new stake in AMC Networks in the 2nd quarter worth approximately $237,000. Institutional investors own 84.98% of the company’s stock.
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AMC Networks Inc. (NASDAQ:AMCX) opened at 59.08 on Friday. AMC Networks Inc. has a one year low of $46.17 and a one year high of $67.61. The company’s 50 day moving average price is $60.06 and its 200-day moving average price is $57.73. The company 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 announced its earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.47. The firm had revenue of $710.55 million during the quarter, compared to analysts’ expectations of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. On average, analysts forecast that AMC Networks Inc. will post $6.65 EPS for the current fiscal year.
AMC Networks declared that its Board of Directors has approved a share buyback program on Wednesday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 13.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on AMCX. Moffett Nathanson restated a “sell” rating on shares of AMC Networks in a research report on Friday, June 9th. Jefferies Group LLC restated a “hold” rating and issued a $65.00 target price on shares of AMC Networks in a research report on Tuesday, September 12th. Zacks Investment Research downgraded AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Cowen and Company restated a “hold” rating and issued a $53.00 target price on shares of AMC Networks in a research report on Thursday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AMC Networks currently has a consensus rating of “Hold” and a consensus target price of $57.82.
AMC Networks 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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