OxFORD Asset Management LLP Has $2.86 Million Stake in AMC Networks Inc. (AMCX)
OxFORD Asset Management LLP lessened its stake in AMC Networks Inc. (NASDAQ:AMCX) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,484 shares of the company’s stock after selling 7,434 shares during the period. OxFORD Asset Management LLP owned about 0.08% of AMC Networks worth $2,857,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCX. World Asset Management Inc boosted its holdings in AMC Networks by 0.3% during the 2nd quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after acquiring an additional 12 shares during the period. PNC Financial Services Group Inc. grew its position in AMC Networks by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after acquiring an additional 88 shares during the last quarter. Wrapmanager Inc. grew its position in AMC Networks by 3.2% during the 2nd quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock worth $219,000 after acquiring an additional 128 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AMC Networks by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in AMC Networks by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the company’s stock worth $769,000 after acquiring an additional 200 shares during the last quarter. 84.99% of the stock is owned by institutional investors.
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A number of equities analysts have commented on the company. BidaskClub raised AMC Networks from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Moffett Nathanson reissued a “sell” rating on shares of AMC Networks in a research note on Friday, June 9th. Jefferies Group LLC reissued a “hold” rating and set a $60.00 price objective on shares of AMC Networks in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Thursday, July 13th. Finally, TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.82.
Shares of AMC Networks Inc. (NASDAQ:AMCX) opened at 58.60 on Tuesday. The stock’s 50 day moving average is $59.12 and its 200-day moving average is $57.74. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 12.80 and a beta of 1.06. AMC Networks Inc. has a 52 week low of $46.17 and a 52 week high of $67.61.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The business had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. During the same quarter last year, the firm posted $1.15 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that AMC Networks Inc. will post $6.65 earnings per share for the current year.
AMC Networks declared that its board has approved a stock buyback program on Wednesday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
AMC Networks 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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