AMC Networks Inc. (NASDAQ:AMCX) Stock Rated “Strong Sell” by Wall Street Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has been assigned a consensus rating of “Strong Sell” from the five analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.33.

AMCX has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Morgan Stanley raised their price objective on AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. UBS Group increased their price target on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. Zacks Research lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 10th. Finally, Weiss Ratings cut AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $10.74 on Thursday. The company has a 50 day simple moving average of $11.93 and a two-hundred day simple moving average of $10.02. The stock has a market cap of $443.02 million, a price-to-earnings ratio of -13.10 and a beta of 1.39. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76. AMC Networks has a 12 month low of $6.47 and a 12 month high of $12.93.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. As a group, analysts predict that AMC Networks will post 2.41 earnings per share for the current year.

Insider Activity at AMC Networks

In related news, CAO Michael Sherin, III sold 10,648 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.35, for a total transaction of $131,502.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.13% of the company’s stock.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of AMC Networks during the second quarter worth $33,000. AXQ Capital LP purchased a new stake in AMC Networks in the 4th quarter valued at $118,000. Meeder Asset Management Inc. boosted its stake in shares of AMC Networks by 70.2% during the first quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company’s stock worth $126,000 after buying an additional 7,643 shares during the period. First Trust Advisors LP increased its holdings in shares of AMC Networks by 18.5% in the first quarter. First Trust Advisors LP now owns 19,720 shares of the company’s stock valued at $134,000 after purchasing an additional 3,074 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of AMC Networks by 14.1% in the first quarter. SG Americas Securities LLC now owns 23,405 shares of the company’s stock valued at $159,000 after acquiring an additional 2,885 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc is an entertainment company that develops, produces, and distributes television and digital content. Its portfolio includes national cable networks such as AMC, WE tv, IFC, SundanceTV, and BBC America, along with streaming services including AMC+, Acorn TV, Shudder, ALLBLK, and HIDIVE.

The company’s programming spans scripted dramas, films, documentaries, unscripted series, anime, and other specialty content. AMC Networks also licenses and distributes its programming through pay-TV providers, digital platforms, and international channels, serving audiences in the United States and selected markets worldwide.

AMC Networks traces its roots to Rainbow Media, a Cablevision subsidiary that operated several specialty television networks.