AMC Networks Inc. (NASDAQ:AMCX) Receives Average Recommendation of “Reduce” from Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has earned a consensus recommendation of “Reduce” from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.00.

Several analysts have recently commented on the stock. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley lowered their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, February 18th.

AMC Networks Stock Down 1.9 %

AMCX opened at $6.84 on Wednesday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market cap of $301.89 million, a price-to-earnings ratio of -1.30 and a beta of 1.33. AMC Networks has a one year low of $6.59 and a one year high of $18.58. The business’s fifty day moving average is $8.22 and its two-hundred day moving average is $8.63.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, February 14th. The company reported $0.64 EPS 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 during the quarter, compared to analysts’ expectations of $611.26 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. Analysts anticipate that AMC Networks will post 2.62 EPS for the current fiscal year.

Insider Activity at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the sale, the insider now owns 20,833 shares of the company’s stock, valued at $144,789.35. The trade was a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 25.87% of the company’s stock.

Institutional Trading of AMC Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Wealth Enhancement Advisory Services LLC purchased a new position in AMC Networks during the fourth quarter worth approximately $141,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of AMC Networks during the 4th quarter worth $546,000. PharVision Advisers LLC purchased a new position in shares of AMC Networks in the 4th quarter worth $538,000. Two Sigma Advisers LP boosted its holdings in AMC Networks by 93.8% in the fourth quarter. Two Sigma Advisers LP now owns 199,400 shares of the company’s stock valued at $1,974,000 after acquiring an additional 96,500 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in AMC Networks by 18.8% during the fourth quarter. Two Sigma Investments LP now owns 569,523 shares of the company’s stock valued at $5,638,000 after acquiring an additional 90,169 shares during the period. Hedge funds and other 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.