Texas Permanent School Fund Corp Acquires 26,242 Shares of AMC Networks Inc. (NASDAQ:AMCX)

Texas Permanent School Fund Corp raised its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 98.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,912 shares of the company’s stock after acquiring an additional 26,242 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of AMC Networks worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMCX. Innealta Capital LLC bought a new position in shares of AMC Networks during the second quarter worth $48,000. EntryPoint Capital LLC bought a new position in shares of AMC Networks during the first quarter worth $60,000. EMC Capital Management boosted its position in shares of AMC Networks by 23.8% during the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after purchasing an additional 1,500 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of AMC Networks during the first quarter worth $118,000. Finally, Summit Securities Group LLC bought a new position in shares of AMC Networks during the second quarter worth $125,000. 78.51% of the stock is owned by institutional investors.

AMC Networks Trading Down 8.4 %

AMCX opened at $8.14 on Friday. The stock has a market capitalization of $354.59 million, a P/E ratio of 2.28 and a beta of 1.29. AMC Networks Inc. has a 12 month low of $7.51 and a 12 month high of $20.97. The firm’s fifty day simple moving average is $9.85 and its 200 day simple moving average is $11.67. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.28). The company had revenue of $625.90 million during the quarter, compared to the consensus estimate of $601.41 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 earnings per share. As a group, research analysts anticipate that AMC Networks Inc. will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMCX shares. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Wells Fargo & Company reduced their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

AMC Networks Company Profile

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