JPMorgan Chase & Co. Cuts AMC Networks (NASDAQ:AMCX) Price Target to $6.00

AMC Networks (NASDAQ:AMCX) had its price target cut by research analysts at JPMorgan Chase & Co. from $8.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.33% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Morgan Stanley decreased their target price on shares of AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday. UBS Group decreased their target price on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Finally, StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Four research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.38.

AMC Networks Price Performance

AMCX stock opened at $6.02 on Monday. The firm has a 50 day moving average price of $6.49 and a 200-day moving average price of $8.16. AMC Networks has a 52-week low of $5.41 and a 52-week high of $18.58. The firm has a market capitalization of $265.70 million, a price-to-earnings ratio of -1.15 and a beta of 1.43. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $555.23 million for the quarter, compared to analysts’ expectations of $567.23 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. AMC Networks’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities research analysts forecast that AMC Networks will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s 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 transaction, the insider now directly owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This trade represents a 88.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.62% of the stock is owned by insiders.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after acquiring an additional 1,097 shares during the period. GAMMA Investing LLC grew its stake in AMC Networks by 254.1% during the first quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after acquiring an additional 3,732 shares in the last quarter. R Squared Ltd bought a new stake in AMC Networks in the 4th quarter valued at $59,000. US Bancorp DE boosted its holdings in shares of AMC Networks by 3,351.9% during the 1st quarter. US Bancorp DE now owns 10,045 shares of the company’s stock valued at $69,000 after purchasing an additional 9,754 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of AMC Networks in the first quarter worth about $73,000. 78.51% of the stock is owned by 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.