Virginia Retirement Systems ET AL acquired a new position in AMC Networks Inc. (NASDAQ:AMCX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,400 shares of the company’s stock, valued at approximately $1,474,000.
Other hedge funds also recently modified their holdings of the company. I.G. Investment Management LTD. boosted its stake in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock valued at $108,000 after buying an additional 1,288 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $193,000 after buying an additional 2,400 shares during the last quarter. Wrapmanager Inc. boosted its stake in AMC Networks by 4.7% in the second quarter. Wrapmanager Inc. now owns 3,711 shares of the company’s stock valued at $224,000 after buying an additional 168 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in AMC Networks during the second quarter valued at $225,000. Finally, LS Investment Advisors LLC boosted its stake in AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock valued at $227,000 after buying an additional 1,501 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.
AMC Networks Inc. (NASDAQ:AMCX) opened at 52.01 on Tuesday. AMC Networks Inc. has a 1-year low of $49.93 and a 1-year high of $83.78. The stock has a market cap of $3.71 billion, a PE ratio of 10.83 and a beta of 0.93. The stock has a 50 day moving average price of $53.66 and a 200-day moving average price of $60.02.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 4th. The company reported $1.28 EPS for the quarter, meeting analysts’ consensus estimates of $1.28. The firm had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts expect that AMC Networks Inc. will post $5.57 EPS for the current year.
AMCX has been the topic of several recent research reports. Stifel Nicolaus lowered AMC Networks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $70.00 to $60.00 in a research report on Thursday, September 15th. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a research report on Friday, June 17th. Nomura reduced their price objective on AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. Jefferies Group reduced their price objective on AMC Networks from $67.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, August 5th. Finally, Albert Fried & Company reiterated a “buy” rating and set a $97.00 price objective on shares of AMC Networks in a research report on Wednesday, June 22nd. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.53.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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