Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) PT at $7.00

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received a consensus rating of “Strong Sell” from the six ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.00.

AMCX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, January 21st. Seaport Research Partners lowered AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Zacks Research upgraded AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wells Fargo & Company lifted their target price on AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Morgan Stanley lifted their target price on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Thursday, December 18th.

AMC Networks Trading Up 2.7%

AMCX opened at $7.58 on Friday. AMC Networks has a 52 week low of $5.41 and a 52 week high of $10.27. The business has a fifty day simple moving average of $7.51 and a 200-day simple moving average of $8.10. The firm has a market cap of $323.74 million, a P/E ratio of 5.53 and a beta of 1.16. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The business had revenue of $594.80 million during the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. On average, equities analysts expect that AMC Networks will post 2.62 earnings per share for the current year.

Insider Transactions at AMC Networks

In related news, CAO Michael J. Sherin III sold 5,963 shares of AMC Networks stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the completion of the transaction, the chief accounting officer directly owned 10,648 shares in the company, valued at approximately $84,758.08. This trade represents a 35.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMCX. Empowered Funds LLC lifted its holdings in AMC Networks by 8.5% during the 1st quarter. Empowered Funds LLC now owns 200,273 shares of the company’s stock worth $1,378,000 after buying an additional 15,738 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AMC Networks by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 933,023 shares of the company’s stock worth $5,851,000 after buying an additional 36,203 shares during the last quarter. Cetera Investment Advisers purchased a new stake in AMC Networks during the 2nd quarter worth about $63,000. Rhumbline Advisers lifted its holdings in AMC Networks by 19.4% during the 2nd quarter. Rhumbline Advisers now owns 71,874 shares of the company’s stock worth $451,000 after buying an additional 11,685 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in AMC Networks by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 995,837 shares of the company’s stock worth $6,244,000 after buying an additional 102,346 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Company Profile

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.