Nisa Investment Advisors LLC cut its position in AMC Networks Inc. (NASDAQ:AMCX) by 17.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,982 shares of the company’s stock after selling 1,700 shares during the period. Nisa Investment Advisors LLC’s holdings in AMC Networks were worth $423,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMCX. Oppenheimer Asset Management Inc. acquired a new stake in shares of AMC Networks during the first quarter worth about $194,000. World Asset Management Inc acquired a new stake in shares of AMC Networks during the first quarter worth about $232,000. Wrapmanager Inc. acquired a new stake in shares of AMC Networks during the first quarter worth about $233,000. Greenwood Capital Associates LLC boosted 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 worth $234,000 after buying an additional 167 shares in the last quarter. Finally, LS Investment Advisors LLC boosted 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 worth $234,000 after buying an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

AMC Networks Inc. (AMCX) traded up 0.71% during midday trading on Friday, hitting $61.36. 354,333 shares of the company traded hands. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.41 and a beta of 1.06. The stock’s 50-day moving average price is $58.65 and its 200 day moving average price is $57.34. AMC Networks Inc. has a 12-month low of $46.17 and a 12-month high of $67.61.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.41 by $0.47. The business had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. AMC Networks’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. On average, equities analysts forecast that AMC Networks Inc. will post $6.64 EPS for the current year.

AMC Networks announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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A number of brokerages recently issued reports on AMCX. Moffett Nathanson reiterated a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Zacks Investment Research cut shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price objective (up from $60.00) on shares of AMC Networks in a report on Friday, August 4th. Finally, TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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