AMC Networks Inc. (NASDAQ:AMCX) Stake Boosted by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio boosted its position in AMC Networks Inc. (NASDAQ:AMCX) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,018 shares of the company’s stock after buying an additional 4,469 shares during the period. Public Employees Retirement System of Ohio’s holdings in AMC Networks were worth $2,583,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of AMC Networks by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 275,966 shares of the company’s stock worth $14,445,000 after buying an additional 783 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of AMC Networks during the first quarter worth about $471,000. Oppenheimer & Co. Inc. raised its stake in shares of AMC Networks by 31.9% in the first quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock worth $557,000 after buying an additional 2,300 shares in the last quarter. Norges Bank purchased a new stake in shares of AMC Networks during the fourth quarter worth about $29,945,000. Finally, Clinton Group Inc. raised its stake in shares of AMC Networks by 2.1% in the first quarter. Clinton Group Inc. now owns 79,662 shares of the company’s stock worth $4,675,000 after buying an additional 1,660 shares in the last quarter. 82.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMC Networks Inc. (AMCX) opened at 56.77 on Wednesday. AMC Networks Inc. has a 52-week low of $46.17 and a 52-week high of $67.61. The stock has a market cap of $3.78 billion, a P/E ratio of 13.79 and a beta of 1.03. The firm has a 50-day moving average price of $54.75 and a 200-day moving average price of $56.54.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, May 4th. The company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.10. AMC Networks had a return on equity of 502.40% and a net margin of 10.59%. The company had revenue of $720.19 million for the quarter, compared to analyst estimates of $720.15 million. During the same quarter in the prior year, the company posted $2.09 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that AMC Networks Inc. will post $6.40 EPS for the current fiscal year.
AMC Networks declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 13.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
AMCX has been the topic of a number of research analyst reports. BidaskClub raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG lowered their price target on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, May 8th. Zacks Investment Research raised AMC Networks from a “hold” rating to a “strong-buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, April 25th. Finally, ValuEngine lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.79.
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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