AMC Networks (NASDAQ:AMCX) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $9.40 on Tuesday. AMC Networks has a twelve month low of $8.84 and a twelve month high of $20.97. The firm has a fifty day simple moving average of $13.76 and a 200 day simple moving average of $14.46. The company has a market capitalization of $409.46 million, a PE ratio of 2.63 and a beta of 1.31. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.06.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, May 10th. The company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.63). AMC Networks had a net margin of 6.09% and a return on equity of 23.57%. The company had revenue of $596.50 million during the quarter, compared to the consensus estimate of $601.74 million. During the same period last year, the firm posted $2.62 earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, sell-side analysts forecast that AMC Networks will post 4.93 EPS for the current year.

Insider Buying and Selling

In other AMC Networks news, insider Kimberly Kelleher sold 10,941 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $17.22, for a total value of $188,404.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Michael J. Sherin III sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total transaction of $46,830.00. Following the sale, the chief accounting officer now owns 4,948 shares of the company’s stock, valued at approximately $77,238.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Kelleher sold 10,941 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total transaction of $188,404.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,348 shares of company stock worth $888,957. 25.87% of the stock is owned by insiders.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors have recently made changes to their positions in AMCX. Range Financial Group LLC purchased a new stake in shares of AMC Networks in the 1st quarter valued at $160,000. Vanguard Group Inc. boosted its stake in shares of AMC Networks by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after purchasing an additional 30,721 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AMC Networks by 152.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock valued at $750,000 after purchasing an additional 24,085 shares in the last quarter. RWWM Inc. purchased a new stake in shares of AMC Networks in the 3rd quarter valued at $2,068,000. Finally, Invesco Ltd. boosted its stake in shares of AMC Networks by 6.2% in the 3rd quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock valued at $6,231,000 after purchasing an additional 30,646 shares in the last quarter. 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.