Schroder Investment Management Group lifted its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX) by 175.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,290 shares of the company’s stock after buying an additional 142,800 shares during the period. Schroder Investment Management Group owned about 0.34% of AMC Networks worth $11,946,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of AMCX. Wells Fargo & Company MN boosted its stake in shares of AMC Networks by 21.0% during the 1st quarter. Wells Fargo & Company MN now owns 329,740 shares of the company’s stock worth $19,349,000 after buying an additional 57,173 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of AMC Networks during the 1st quarter worth about $370,000. Great West Life Assurance Co. Can boosted its stake in shares of AMC Networks by 2.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,004 shares of the company’s stock worth $1,994,000 after buying an additional 722 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of AMC Networks during the 1st quarter worth about $784,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of AMC Networks by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 753,517 shares of the company’s stock worth $44,216,000 after buying an additional 82,222 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.
A number of research firms have recently commented on AMCX. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a research note on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $65.00 price objective on shares of AMC Networks in a research note on Tuesday. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $61.25.
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Shares of AMC Networks Inc. (AMCX) opened at 59.42 on Friday. The stock has a 50 day moving average of $60.46 and a 200-day moving average of $57.80. The company has a market capitalization of $3.78 billion, a PE ratio of 12.98 and a beta of 1.09. AMC Networks Inc. has a one year low of $46.17 and a one year high of $67.61.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The business had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. During the same period in the previous year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that AMC Networks Inc. will post $6.67 earnings per share for the current fiscal year.
AMC Networks declared that its board has authorized a stock repurchase program on Wednesday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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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