AMC Networks Inc. (AMCX) Shares Bought by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC increased its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 89.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,207 shares of the company’s stock after acquiring an additional 40,797 shares during the period. Mutual of America Capital Management LLC owned approximately 0.13% of AMC Networks worth $4,604,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AMCX. BlackRock Inc. grew its holdings in AMC Networks by 3,894.6% during the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after acquiring an additional 4,922,108 shares during the period. Omega Advisors Inc. acquired a new position in AMC Networks during the first quarter worth about $48,850,000. AJO LP grew its holdings in AMC Networks by 121.4% during the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after acquiring an additional 546,211 shares during the period. LSV Asset Management grew its holdings in AMC Networks by 284.0% during the second quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after acquiring an additional 533,360 shares during the period. Finally, Boston Partners acquired a new position in AMC Networks during the second quarter worth about $20,311,000. 84.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on AMCX. BidaskClub raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Sanford C. Bernstein reissued a “market perform” rating on shares of AMC Networks in a research note on Tuesday, September 12th. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price target on shares of AMC Networks in a research note on Monday, July 10th. Finally, ValuEngine cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. AMC Networks presently has an average rating of “Hold” and a consensus target price of $57.82.
Shares of 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 capitalization of $3.76 billion, a price-to-earnings ratio of 12.91 and a beta of 1.09.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share (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 company had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. During the same period in the prior year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that AMC Networks Inc. will post $6.65 earnings per share for the current year.
AMC Networks announced that its Board of Directors has initiated a stock repurchase program on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors 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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