Texas Permanent School Fund Corp Has $511,000 Position in AMC Networks Inc. (NASDAQ:AMCX)

Texas Permanent School Fund Corp raised its holdings in AMC Networks Inc. (NASDAQ:AMCX) by 98.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 52,912 shares of the company’s stock after acquiring an additional 26,242 shares during the quarter. Texas Permanent School Fund Corp’s holdings in AMC Networks were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Koss Olinger Consulting LLC acquired a new stake in AMC Networks in the 2nd quarter valued at $1,569,000. Victory Capital Management Inc. increased its stake in shares of AMC Networks by 18.7% during the 2nd quarter. Victory Capital Management Inc. now owns 29,868 shares of the company’s stock worth $289,000 after purchasing an additional 4,695 shares during the last quarter. Privium Fund Management UK Ltd increased its stake in shares of AMC Networks by 99.6% during the 2nd quarter. Privium Fund Management UK Ltd now owns 91,660 shares of the company’s stock worth $862,000 after purchasing an additional 45,729 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of AMC Networks during the 2nd quarter worth about $48,000. Finally, Summit Securities Group LLC acquired a new position in shares of AMC Networks during the 2nd quarter worth about $125,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMCX has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

AMC Networks Stock Performance

Shares of AMCX stock opened at $8.14 on Friday. The company has a market capitalization of $354.59 million, a price-to-earnings ratio of 2.28 and a beta of 1.29. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. The company has a 50-day simple moving average of $9.85 and a 200 day simple moving average of $11.67. AMC Networks Inc. has a 52 week low of $7.51 and a 52 week high of $20.97.

AMC Networks (NASDAQ:AMCX) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $601.41 million. AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. On average, sell-side analysts predict that AMC Networks Inc. will post 4.86 earnings per share for the current year.

About AMC Networks

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.