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

August 29, 2022 Liana

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.

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

Wall Street Analyst Weigh In

AMC Networks Price Performance

AMC Networks Company Profile

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