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.
Visit the Knowledge Center to learn more about trading share repurchases and buybacks.
To see the latest weekly webinar, you can visit our Live Webinar page.
Subscribe here if you would like to start receiving these signals in real-time and start trading!