AMC Networks Inc. (NASDAQ:AMCX) Stock Now Rated “Strong Sell” by Wall Street Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given an average rating of “Strong Sell” by the five analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.33.

Several analysts recently weighed in on the company. Weiss Ratings downgraded AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Morgan Stanley raised their price target on AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. UBS Group raised their price objective on shares of AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Finally, Zacks Research downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 10th.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $11.14 on Thursday. AMC Networks has a 12 month low of $6.47 and a 12 month high of $12.93. The firm has a market capitalization of $459.52 million, a P/E ratio of -13.59 and a beta of 1.39. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $11.90 and a two-hundred day simple moving average of $9.96.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The business had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts forecast that AMC Networks will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AMC Networks news, CAO Michael Sherin, III sold 10,648 shares of AMC Networks stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.35, for a total value of $131,502.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock valued at $9,423,000 after acquiring an additional 349,373 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of AMC Networks in the 1st quarter worth $1,060,000. Bank of New York Mellon Corp grew its holdings in shares of AMC Networks by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 144,015 shares of the company’s stock worth $978,000 after acquiring an additional 4,649 shares during the period. Gabelli Funds LLC increased its position in AMC Networks by 2.4% during the first quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in AMC Networks by 7.4% in the fourth quarter. Verus Capital Partners LLC now owns 80,300 shares of the company’s stock valued at $764,000 after acquiring an additional 5,500 shares during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

AMC Networks Inc is an entertainment company that develops, produces, and distributes television and digital content. Its portfolio includes national cable networks such as AMC, WE tv, IFC, SundanceTV, and BBC America, along with streaming services including AMC+, Acorn TV, Shudder, ALLBLK, and HIDIVE.

The company’s programming spans scripted dramas, films, documentaries, unscripted series, anime, and other specialty content. AMC Networks also licenses and distributes its programming through pay-TV providers, digital platforms, and international channels, serving audiences in the United States and selected markets worldwide.

AMC Networks traces its roots to Rainbow Media, a Cablevision subsidiary that operated several specialty television networks.