Teacher Retirement System of Texas increased its position in AMC Networks Inc. (NASDAQ:AMCX) by 13.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,529 shares of the company’s stock after buying an additional 1,031 shares during the period. Teacher Retirement System of Texas’ holdings in AMC Networks were worth $515,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. I.G. Investment Management LTD. increased its position in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock valued at $108,000 after buying an additional 1,288 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in AMC Networks during the second quarter valued at $225,000. LS Investment Advisors LLC increased its position in AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock valued at $227,000 after buying an additional 1,501 shares during the last quarter. BB&T Securities LLC increased its position in AMC Networks by 1.4% in the second quarter. BB&T Securities LLC now owns 3,779 shares of the company’s stock valued at $228,000 after buying an additional 51 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in AMC Networks during the second quarter valued at $260,000. Institutional investors and hedge funds own 83.72% of the company’s stock.
AMC Networks Inc. (NASDAQ:AMCX) traded up 2.06% during midday trading on Wednesday, reaching $53.46. 62,714 shares of the company were exchanged. The firm has a market capitalization of $3.82 billion, a PE ratio of 11.13 and a beta of 0.84. The company has a 50-day moving average of $53.16 and a 200 day moving average of $59.42. AMC Networks Inc. has a 52 week low of $49.93 and a 52 week high of $83.78.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.28. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The business earned $685 million during the quarter, compared to analyst estimates of $676.87 million. During the same period last year, the firm posted $1.14 EPS. The company’s revenue was up 14.0% on a year-over-year basis. Equities analysts predict that AMC Networks Inc. will post $5.57 earnings per share for the current year.
Several equities analysts recently commented on the stock. Credit Agricole SA set a $89.00 price objective on shares of AMC Networks and gave the company a “buy” rating in a research note on Saturday, September 17th. Jefferies Group reaffirmed a “hold” rating on shares of AMC Networks in a research note on Monday, September 12th. Zacks Investment Research cut shares of AMC Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Morgan Stanley cut shares of AMC Networks from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Finally, TheStreet cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.53.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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