AMC Networks Inc. (NASDAQ:AMCX) Receives Average Rating of “Reduce” from Analysts

AMC Networks Inc. (NASDAQ:AMCX) has earned an average recommendation of “Reduce” from the four research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $8.00.

A number of analysts have commented on AMCX shares. JPMorgan Chase & Co. cut their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Morgan Stanley cut their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Finally, StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th.

Insider Activity

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the sale, the insider now owns 20,833 shares in the company, valued at $144,789.35. The trade was a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 25.87% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after buying an additional 1,097 shares during the last quarter. R Squared Ltd purchased a new stake in shares of AMC Networks in the 4th quarter valued at approximately $59,000. Federated Hermes Inc. lifted its holdings in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after acquiring an additional 1,918 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of AMC Networks during the 3rd quarter worth approximately $88,000. Finally, FORA Capital LLC acquired a new stake in AMC Networks in the 3rd quarter valued at approximately $89,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Stock Up 2.0 %

Shares of AMCX opened at $6.98 on Wednesday. The stock has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.65. AMC Networks has a one year low of $6.59 and a one year high of $18.58. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $308.07 million, a price-to-earnings ratio of -1.33 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). The business had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. AMC Networks’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Equities research analysts forecast that AMC Networks will post 2.62 earnings per share for the current fiscal year.

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.