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

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus recommendation of “Reduce” from the four brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.00.

Several research firms recently issued reports on AMCX. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Wells Fargo & Company decreased their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th.

AMC Networks Trading Up 3.3 %

Shares of AMCX opened at $9.89 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.85 and a current ratio of 1.85. AMC Networks has a fifty-two week low of $8.84 and a fifty-two week high of $20.97. The firm has a 50 day moving average price of $10.70 and a 200-day moving average price of $12.60. The firm has a market cap of $430.83 million, a price-to-earnings ratio of 2.77 and a beta of 1.30.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business had revenue of $625.90 million during the quarter, compared to the consensus estimate of $601.41 million. During the same period in the prior year, the firm earned $2.02 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, equities research analysts forecast that AMC Networks will post 4.93 earnings per share for the current year.

Insider Transactions at AMC Networks

In related news, CAO Michael J. Sherin III sold 4,948 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $16.11, for a total transaction of $79,712.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Michael J. Sherin III sold 4,948 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $16.11, for a total transaction of $79,712.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kimberly Kelleher sold 10,941 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total transaction of $188,404.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,348 shares of company stock worth $373,527. 25.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMC Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Nisa Investment Advisors LLC grew its position in shares of AMC Networks by 98.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock worth $81,000 after buying an additional 2,146 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of AMC Networks during the fourth quarter valued at approximately $286,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AMC Networks by 94.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the company’s stock valued at $114,000 after purchasing an additional 2,959 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of AMC Networks by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 224,230 shares of the company’s stock valued at $4,213,000 after purchasing an additional 4,113 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of AMC Networks by 6.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 18,428 shares of the company’s stock worth $346,000 after purchasing an additional 1,172 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.