AMC Networks (NASDAQ:AMCX) Given New $9.00 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCX) had its price target decreased by Morgan Stanley from $10.00 to $9.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday. Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Two 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. Based on data from MarketBeat.com, AMC Networks has a consensus rating of “Hold” and a consensus target price of $8.50.

AMC Networks Price Performance

Shares of AMCX stock opened at $9.52 on Tuesday. The stock has a 50 day moving average of $8.28 and a two-hundred day moving average of $10.73. 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 12 month low of $7.08 and a 12 month high of $20.97. The company has a market capitalization of $419.83 million, a P/E ratio of 15.11 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 17.41% and a net margin of 1.45%. AMC Networks’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.85 EPS. As a group, equities analysts expect that AMC Networks will post 4.24 EPS for the current year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors have recently bought and sold shares of AMCX. Marshall Wace LLP bought a new position in AMC Networks in the 2nd quarter valued at $4,456,000. Dimensional Fund Advisors LP raised its position in AMC Networks by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of AMC Networks by 234.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after buying an additional 195,444 shares during the period. Koss Olinger Consulting LLC acquired a new stake in shares of AMC Networks in the 2nd quarter valued at $1,569,000. Finally, Dana Investment Advisors Inc. increased its stake in shares of AMC Networks by 40.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after buying an additional 154,927 shares during the period. Institutional investors own 78.51% of the company’s stock.

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.