AMC Networks Inc. (NASDAQ:AMCX) Receives $8.00 Average Price Target from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus rating of “Reduce” from the four ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.00.

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

AMC Networks Trading Down 1.9 %

AMC Networks stock opened at $6.84 on Wednesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The firm’s 50 day moving average price is $8.22 and its 200-day moving average price is $8.62. AMC Networks has a 1 year low of $6.59 and a 1 year high of $18.58. The stock has a market cap of $301.89 million, a P/E ratio of -1.30 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. During the same period last year, the company earned $0.72 earnings per share. The firm’s revenue was down 11.7% on a year-over-year basis. On average, equities analysts predict that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the sale, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. The trade was a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 25.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of AMC Networks by 333.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd bought a new stake in shares of AMC Networks in the 4th quarter valued at about $5,359,000. Janus Henderson Group PLC lifted its position in shares of AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company’s stock worth $3,060,000 after purchasing an additional 297,124 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of AMC Networks by 22.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock valued at $14,505,000 after purchasing an additional 267,044 shares in the last quarter. Finally, RWWM Inc. increased its holdings in AMC Networks by 20.6% during the fourth quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after buying an additional 266,322 shares during the period. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Networks

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.