Dynamic Technology Lab Private Ltd decreased its position in AMC Networks Inc. (NASDAQ:AMCX) by 42.6% during the second quarter, Holdings Channel reports. The firm owned 5,026 shares of the company’s stock after selling 3,732 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in AMC Networks were worth $304,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of AMC Networks by 2.8% in the second quarter. Vanguard Group Inc. now owns 4,438,339 shares of the company’s stock worth $268,163,000 after buying an additional 118,801 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of AMC Networks by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,033,378 shares of the company’s stock worth $132,048,000 after buying an additional 294,128 shares during the period. State Street Corp raised its stake in shares of AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock worth $103,407,000 after buying an additional 17,780 shares during the period. Jennison Associates LLC raised its stake in shares of AMC Networks by 16.5% in the second quarter. Jennison Associates LLC now owns 1,506,361 shares of the company’s stock worth $91,014,000 after buying an additional 213,317 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of AMC Networks by 16.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,144,478 shares of the company’s stock worth $74,322,000 after buying an additional 165,047 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.
AMC Networks Inc. (NASDAQ:AMCX) traded up 0.68% during midday trading on Friday, reaching $51.67. 39,229 shares of the company traded hands. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 10.76 and a beta of 0.93. The firm has a 50 day moving average of $53.41 and a 200-day moving average of $59.79. AMC Networks Inc. has a 12 month low of $49.93 and a 12 month high of $83.78.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.28. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Analysts forecast that AMC Networks Inc. will post $5.57 EPS for the current fiscal year.
AMCX has been the topic of a number of analyst reports. Morgan Stanley lowered shares of AMC Networks from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Albert Fried & Company restated a “buy” rating and set a $76.00 target price on shares of AMC Networks in a research report on Sunday, September 25th. Zacks Investment Research upgraded shares of AMC Networks from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Loop Capital began coverage on shares of AMC Networks in a report on Tuesday, August 9th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus lowered shares of AMC Networks from a “buy” rating to a “hold” rating and decreased their price target for the company from $70.00 to $60.00 in a report on Thursday, September 15th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average 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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