AMC Networks Inc. (NASDAQ:AMCX) Given Average Rating of “Reduce” by Analysts

AMC Networks Inc. (NASDAQ:AMCX) has received a consensus recommendation of “Reduce” from the four brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.00.

A number of research firms recently weighed in on AMCX. Wells Fargo & Company cut their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, August 12th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th.

AMC Networks Stock Up 3.0 %

Shares of AMCX stock opened at $10.19 on Tuesday. The stock has a market cap of $443.90 million, a P/E ratio of 2.85 and a beta of 1.30. The company’s fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $12.52. 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 has a 52 week low of $8.84 and a 52 week high of $20.97.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). AMC Networks had a net margin of 6.09% and a return on equity of 23.57%. The firm had revenue of $625.90 million for the quarter, compared to the consensus estimate of $601.41 million. During the same period in the previous year, the company posted $2.02 earnings per share. AMC Networks’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts predict that AMC Networks will post 4.93 EPS for the current fiscal 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 on Thursday, May 23rd. The shares were sold at an average price of $17.22, for a total transaction of $188,404.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 25.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of AMC Networks during the 4th quarter worth approximately $33,000. Quarry LP lifted its position in shares of AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after purchasing an additional 2,336 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of AMC Networks by 98.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock valued at $81,000 after purchasing an additional 2,146 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of AMC Networks during the first quarter valued at $60,000. Finally, Innealta Capital LLC bought a new position in shares of AMC Networks in the second quarter worth about $48,000. 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.