Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) PT at $8.00

AMC Networks Inc. (NASDAQ:AMCX) has been assigned a consensus recommendation of “Reduce” from the four research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.00.

A number of research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of 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. lowered their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th.

Insider Activity at AMC Networks

In related 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 value of $1,072,697.75. Following the completion of the transaction, the insider now owns 20,833 shares in the company, valued at $144,789.35. The trade was a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMC Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of AMC Networks by 45.7% during the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after purchasing an additional 1,097 shares in the last quarter. R Squared Ltd purchased a new stake in AMC Networks during the fourth quarter worth approximately $59,000. Federated Hermes Inc. boosted its holdings in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after buying an additional 1,918 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of AMC Networks during the third quarter worth about $88,000. Finally, FORA Capital LLC acquired a new position in AMC Networks during the third quarter worth approximately $89,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Price Performance

AMCX opened at $6.84 on Wednesday. The firm has a market capitalization of $301.89 million, a PE ratio of -1.30 and a beta of 1.33. 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 business’s 50-day moving average is $8.22 and its two-hundred day moving average is $8.62. AMC Networks has a 1 year low of $6.59 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last released its earnings results 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). The firm had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. Research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current fiscal year.

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.