AMC Networks Inc. (NASDAQ:AMCX) Given Consensus Recommendation of “Reduce” by Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has earned an average recommendation of “Reduce” from the four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.00.

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

Insider Transactions at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the sale, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.87% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMCX. DRW Securities LLC purchased a new stake in shares of AMC Networks during the 3rd quarter worth approximately $120,000. BNP Paribas Financial Markets raised its stake in AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after acquiring an additional 55,565 shares in the last quarter. FORA Capital LLC purchased a new stake in AMC Networks in the third quarter valued at $89,000. Martingale Asset Management L P acquired a new position in AMC Networks in the third quarter valued at $95,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AMC Networks during the third quarter worth about $444,000. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $6.98 on Wednesday. The stock has a market capitalization of $308.07 million, a price-to-earnings ratio of -1.33 and a beta of 1.33. 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 has a 50-day moving average of $8.34 and a 200 day moving average of $8.65. AMC Networks has a 12 month low of $6.59 and a 12 month 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 negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. During the same period in the previous year, the business posted $0.72 EPS. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that AMC Networks will post 2.62 earnings per share for the current year.

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.