AMC Networks (NASDAQ:AMCX) Upgraded at StockNews.com

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other analysts have also recently issued reports on AMCX. Wells Fargo & Company cut their price objective on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AMC Networks has a consensus rating of “Hold” and a consensus price target of $8.50.

AMC Networks Stock Up 13.8 %

Shares of AMC Networks stock opened at $9.65 on Monday. The company has a fifty day moving average price of $8.27 and a 200 day moving average price of $10.74. The company has a current ratio of 2.32, a quick ratio of 2.13 and a debt-to-equity ratio of 2.03. AMC Networks has a twelve month low of $7.08 and a twelve month high of $20.97. The stock has a market cap of $425.57 million, a price-to-earnings ratio of 15.32 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $599.60 million during the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 earnings per share. Equities research analysts forecast that AMC Networks will post 4.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in shares of AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after purchasing an additional 2,336 shares during the period. Innealta Capital LLC bought a new stake in AMC Networks in the second quarter valued at $48,000. nVerses Capital LLC acquired a new position in shares of AMC Networks during the third quarter valued at $55,000. EntryPoint Capital LLC bought a new position in shares of AMC Networks during the first quarter worth about $60,000. Finally, EMC Capital Management increased its holdings in shares of AMC Networks by 23.8% in the 1st quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after acquiring an additional 1,500 shares during the period. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.