Janney Montgomery Scott LLC increased its stake in shares of AMC Networks Inc. (NASDAQ:AMCX) by 11.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 21,399 shares of the company’s stock after buying an additional 2,244 shares during the period. Janney Montgomery Scott LLC’s holdings in AMC Networks were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock valued at $296,245,000 after buying an additional 4,922,108 shares during the period. Omega Advisors Inc. bought a new stake in shares of AMC Networks during the first quarter valued at about $48,850,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of AMC Networks by 1,500.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 670,360 shares of the company’s stock valued at $39,337,000 after buying an additional 628,484 shares during the period. Bank of Montreal Can boosted its stake in shares of AMC Networks by 460.3% in the second quarter. Bank of Montreal Can now owns 396,236 shares of the company’s stock valued at $21,163,000 after buying an additional 325,515 shares during the period. Finally, Morgan Stanley boosted its stake in shares of AMC Networks by 73.9% in the first quarter. Morgan Stanley now owns 509,073 shares of the company’s stock valued at $29,873,000 after buying an additional 216,261 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMC Networks Inc. (NASDAQ 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 cap of $3.90 billion, a PE ratio of 13.42 and a beta of 1.06. The firm’s 50-day moving average price is $58.87 and its 200-day moving average price is $57.38.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.41 by $0.47. The firm had revenue of $710.55 million for 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%. AMC Networks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. Analysts expect that AMC Networks Inc. will post $6.64 earnings per share for the current year.

AMC Networks declared that its board has approved a stock repurchase plan on Wednesday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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AMCX has been the topic of several recent research reports. Zacks Investment Research cut AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. BidaskClub raised AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG dropped their target price on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. ValuEngine cut AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 target price on shares of AMC Networks in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.25.

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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Institutional Ownership by Quarter for AMC Networks (NASDAQ:AMCX)

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