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

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

A number of research firms have recently issued reports on AMCX. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. JPMorgan Chase & Co. dropped their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Morgan Stanley cut their price objective on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th.

AMC Networks Stock Down 1.9 %

Shares of AMC Networks stock opened at $6.84 on Wednesday. The company has a fifty day moving average price of $8.22 and a 200 day moving average price of $8.63. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks has a twelve month low of $6.59 and a twelve month high of $18.58. The stock has a market cap of $301.89 million, a price-to-earnings ratio of -1.30 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). The company had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities research analysts forecast that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the transaction, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of AMC Networks during the fourth quarter worth $5,359,000. Janus Henderson Group PLC lifted its position in shares of AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company’s stock worth $3,060,000 after buying an additional 297,124 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of AMC Networks by 22.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock valued at $14,505,000 after buying an additional 267,044 shares during the period. Finally, RWWM Inc. grew its position in shares of AMC Networks by 20.6% during the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after buying an additional 266,322 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

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.