StockNews.com Downgrades AMC Networks (NASDAQ:AMCX) to Hold

StockNews.com cut shares of AMC Networks (NASDAQ:AMCXFree Report) from a buy rating to a hold rating in a research report released on Thursday.

Other research analysts have also issued reports about the company. TheStreet lowered AMC Networks from a c- rating to a d rating in a report on Wednesday, November 1st. Seaport Res Ptn lowered AMC Networks from a buy rating to a neutral rating in a report on Tuesday, December 12th. Finally, The Goldman Sachs Group dropped their price objective on AMC Networks from $20.00 to $14.00 and set a neutral rating on the stock in a report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, AMC Networks presently has a consensus rating of Hold and a consensus price target of $12.00.

Check Out Our Latest Stock Report on AMC Networks

AMC Networks Trading Down 1.3 %

Shares of NASDAQ AMCX opened at $18.10 on Thursday. The business has a fifty day moving average price of $18.06 and a 200 day moving average price of $14.41. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.46 and a quick ratio of 1.46. AMC Networks has a 1-year low of $9.96 and a 1-year high of $27.46. The stock has a market capitalization of $788.44 million, a P/E ratio of -25.49 and a beta of 1.29.

AMC Networks (NASDAQ:AMCXGet Free Report) last released its quarterly earnings results on Friday, November 3rd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.54. The company had revenue of $636.90 million during the quarter, compared to analysts’ expectations of $655.99 million. AMC Networks had a positive return on equity of 40.10% and a negative net margin of 0.91%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $2.09 earnings per share. Equities research analysts expect that AMC Networks will post 7.16 EPS for the current fiscal year.

Insider Buying and Selling at AMC Networks

In other news, Director Matthew Blank sold 50,000 shares of AMC Networks stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $19.09, for a total value of $954,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AMC Networks news, Director Matthew Blank sold 50,000 shares of AMC Networks stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Gallagher sold 22,000 shares of AMC Networks stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $20.40, for a total value of $448,800.00. Following the sale, the executive vice president now directly owns 6,867 shares of the company’s stock, valued at $140,086.80. The disclosure for this sale can be found here. Insiders have sold 85,192 shares of company stock worth $1,604,874 over the last quarter. 27.06% of the stock is currently owned by company insiders.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in AMC Networks by 206.2% during the 3rd quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $28,000 after acquiring an additional 1,592 shares during the last quarter. GAMMA Investing LLC acquired a new position in AMC Networks during the 4th quarter worth approximately $33,000. Meeder Asset Management Inc. increased its stake in AMC Networks by 2,007.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,171 shares of the company’s stock valued at $34,000 after purchasing an additional 2,068 shares in the last quarter. Headlands Technologies LLC purchased a new position in AMC Networks in the 2nd quarter valued at approximately $40,000. Finally, State of Wyoming increased its stake in AMC Networks by 237.1% in the 4th quarter. State of Wyoming now owns 2,825 shares of the company’s stock valued at $44,000 after purchasing an additional 1,987 shares in the last quarter. 59.77% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Company Profile

(Get Free Report)

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates through Domestic Operations, and International and Other.

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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