AMC Networks Inc. (NASDAQ:AMCX) Position Reduced by NGAM Advisors L.P.
NGAM Advisors L.P. cut its position in shares of AMC Networks Inc. (NASDAQ:AMCX) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,093 shares of the company’s stock after selling 431 shares during the period. NGAM Advisors L.P.’s holdings in AMC Networks were worth $2,462,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of AMC Networks during the first quarter valued at about $194,000. World Asset Management Inc acquired a new stake in shares of AMC Networks during the first quarter valued at about $232,000. Wrapmanager Inc. acquired a new stake in shares of AMC Networks during the first quarter valued at about $233,000. Greenwood Capital Associates LLC increased its stake in shares of AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock valued at $234,000 after buying an additional 167 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of AMC Networks by 15.0% in the second quarter. LS Investment Advisors LLC now owns 4,376 shares of the company’s stock valued at $234,000 after buying an additional 572 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.
AMC Networks Inc. (AMCX) opened at 61.42 on Friday. 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 $3.90 billion, a PE ratio of 13.42 and a beta of 1.06. The company’s 50-day moving average price is $58.87 and its 200 day moving average price is $57.38.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.47. The firm had revenue of $710.55 million during the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. On average, equities research analysts predict that AMC Networks Inc. will post $6.64 earnings per share for the current year.
AMC Networks announced that its Board of Directors has approved a share repurchase program on Wednesday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 13.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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Several brokerages have issued reports on AMCX. Jefferies Group LLC restated a “hold” rating and issued a $60.00 price target on shares of AMC Networks in a report on Monday, July 10th. BidaskClub upgraded AMC Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, April 14th. Moffett Nathanson restated a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Finally, ValuEngine downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $61.25.
About AMC Networks
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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