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Teacher Retirement System of Texas Buys Shares of 5,709 AMC Networks Inc. (NASDAQ:AMCX)

Teacher Retirement System of Texas bought a new stake in AMC Networks Inc. (NASDAQ:AMCX – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,709 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of AMC Networks by 0.5% in the fourth quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock valued at $2,963,000 after buying an additional 469 shares during the period. DGS Capital Management LLC bought a new stake in shares of AMC Networks during the 1st quarter valued at $253,000. Timelo Investment Management Inc. bought a new stake in shares of AMC Networks during the 4th quarter valued at $2,359,000. The New York State Common Retirement Fund raised its stake in shares of AMC Networks by 134.6% during the 1st quarter. The New York State Common Retirement Fund now owns 49,358 shares of the company’s stock valued at $2.005,000 after purchasing an additional 28,319 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of AMC Networks during the 4th quarter valued at $992,000. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on AMC Networks to $32.00 in a research note on Monday, August 15th. Wells Fargo & Company decreased their target price on AMC Networks from $32.00 to $27.00 and set a “market underperform” rating on the stock in a research note on Monday, August 8th. Moffett Nathanson decreased their target price on AMC Networks to $30.00 in a research note on Friday, July 22nd. Cowen decreased their target price on AMC Networks to $36.00 in a research note on Monday, August 15th. Finally, Guggenheim decreased their target price on AMC Networks from $44.00 to $35.00 in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, AMC Networks presently has a consensus rating of “Hold” and a consensus target price of $33.38.

AMC Networks Price Performance

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AMCX opened at $27.62 on Monday. The stock has a 50-day moving average price of $29.86 and a 200-day moving average price of $35.10. AMC Networks Inc. has a 12-month low of $25.92 and a 12-month high of $51.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $1.17 billion, a P/E ratio of 3.82 and a beta of 1.03.

AMC Networks (NASDAQ:AMCX – Get Rating) last issued its earnings results on Friday, August 5th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.08. The company had revenue of $738.00 million during the quarter, compared to analysts’ expectations of $777.93 million. AMC Networks had a return on equity of 36.11% and a net margin of 10.29%. AMC Networks’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.45 EPS. Equities analysts predict that AMC Networks Inc. will post 8.07 earnings per share for the current fiscal year.

AMC Networks Company Profile

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AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.

See Also

Want to see what other hedge funds are holding AMCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMC Networks Inc. (NASDAQ:AMCX – Get Rating).

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

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