AMC Networks (NASDAQ:AMCX) Cut to “Hold” at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley lowered their target price on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.33.

AMC Networks Price Performance

AMC Networks stock opened at $8.50 on Monday. The company’s 50 day simple moving average is $9.44 and its 200-day simple moving average is $9.12. The company has a market capitalization of $375.02 million, a price-to-earnings ratio of -1.62 and a beta of 1.31. AMC Networks has a 1 year low of $7.08 and a 1 year high of $18.58. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.32 and a current ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. During the same period in the previous year, the company earned $0.72 earnings per share. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts expect that AMC Networks will post 3.09 earnings per share for the current year.

Institutional Trading of AMC Networks

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in AMC Networks by 45.7% during the 4th 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 during the period. Gabelli Funds LLC raised its position in AMC Networks by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock worth $1,325,000 after buying an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock worth $494,000 after buying an additional 1,589 shares during the last quarter. Rhumbline Advisers raised its position in AMC Networks by 2.9% during the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock worth $597,000 after buying an additional 1,680 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after buying an additional 1,918 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

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.