AMC Networks (NASDAQ:AMCX) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

AMC Networks Price Performance

NASDAQ AMCX opened at $9.63 on Tuesday. The company has a 50-day moving average price of $13.69 and a 200-day moving average price of $14.39. AMC Networks has a 52 week low of $8.84 and a 52 week high of $20.97. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $419.48 million, a P/E ratio of 2.70 and a beta of 1.30.

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

Insider Activity at AMC Networks

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 stock was sold at an average price of $17.22, for a total transaction of $188,404.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Michael J. Sherin III sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 4,948 shares in the company, valued at approximately $77,238.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly Kelleher sold 10,941 shares of AMC Networks 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 55,348 shares of company stock worth $888,957. Corporate insiders own 25.87% of the company’s stock.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of AMC Networks during the fourth quarter worth about $33,000. Nisa Investment Advisors LLC grew its holdings in AMC Networks by 98.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock valued at $81,000 after buying an additional 2,146 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in AMC Networks by 20.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock valued at $52,000 after buying an additional 737 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of AMC Networks during the first quarter valued at approximately $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AMC Networks by 94.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the company’s stock worth $114,000 after buying an additional 2,959 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.