AMC Networks Increases Limit for Share Repurchase Program

On June 13, AMC Networks Inc. (AMCX) announced an increase to its share repurchase program. The Board of Directors authorized a $500 million increase to the company’s existing share repurchase program. This change increases the total size of the repurchase authorization to $1.5 million.

 

Sonal detected the event and sent an alert at 8:30 am. The next trade took place at the market open for $62.51. After small first day gains, the stock continued to move higher over the next five trading sessions. AMC Networks closed at $67.40 on June 20. Traders had the opportunity to earn a return of 7.8% in the days after the event.

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