Wells Fargo & Company Cuts AMC Networks (NASDAQ:AMCX) Price Target to $4.00

AMC Networks (NASDAQ:AMCX) had its target price cut by Wells Fargo & Company from $8.00 to $4.00 in a report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research firms have also recently weighed in on AMCX. Morgan Stanley lowered their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. UBS Group lowered their target price on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Four 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. According to MarketBeat, AMC Networks currently has a consensus rating of “Hold” and a consensus target price of $6.50.

AMC Networks Price Performance

AMCX opened at $6.10 on Thursday. The firm has a market capitalization of $269.23 million, a PE ratio of -1.16 and a beta of 1.28. 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 $7.11 and its two-hundred day moving average is $8.38. AMC Networks has a 1 year low of $5.41 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last posted 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 firm had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same quarter last year, the firm earned $0.72 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. Research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 25.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in shares of AMC Networks by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock worth $229,000 after buying an additional 2,043 shares during the last quarter. Ieq Capital LLC acquired a new position in AMC Networks in the fourth quarter valued at approximately $414,000. Contrarius Group Holdings Ltd purchased a new stake in AMC Networks in the 4th quarter worth approximately $5,359,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of AMC Networks during the 4th quarter worth approximately $631,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. Hedge funds and other institutional investors 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.