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

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned an average recommendation of “Strong Sell” from the six analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.00.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Thursday, December 18th. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their price target on AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Seaport Research Partners lowered AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th.

AMC Networks Stock Down 3.1%

AMCX stock opened at $7.21 on Wednesday. The firm has a 50 day moving average of $8.01 and a 200 day moving average of $8.21. The stock has a market capitalization of $307.97 million, a PE ratio of 5.26 and a beta of 1.06. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72. AMC Networks has a 52 week low of $5.41 and a 52 week high of $10.27.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. The business had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. AMC Networks’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. Sell-side analysts forecast that AMC Networks will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Michael J. Sherin III sold 5,963 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer owned 10,648 shares in the company, valued at approximately $84,758.08. This represents a 35.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

Large investors have recently made changes to their positions in the business. Empowered Funds LLC raised its holdings in shares of AMC Networks by 8.5% during the first quarter. Empowered Funds LLC now owns 200,273 shares of the company’s stock worth $1,378,000 after purchasing an additional 15,738 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in AMC Networks by 17.4% in the second quarter. Envestnet Asset Management Inc. now owns 89,355 shares of the company’s stock valued at $560,000 after purchasing an additional 13,211 shares during the last quarter. Atria Investments Inc boosted its holdings in AMC Networks by 103.2% in the second quarter. Atria Investments Inc now owns 37,842 shares of the company’s stock valued at $237,000 after purchasing an additional 19,216 shares during the last quarter. Acadian Asset Management LLC grew its position in AMC Networks by 9.9% during the 2nd quarter. Acadian Asset Management LLC now owns 365,819 shares of the company’s stock worth $2,292,000 after purchasing an additional 32,825 shares during the period. Finally, Verus Capital Partners LLC raised its stake in shares of AMC Networks by 29.9% during the 2nd quarter. Verus Capital Partners LLC now owns 66,500 shares of the company’s stock valued at $417,000 after buying an additional 15,300 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

About AMC Networks

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.