Amc Networks (NASDAQ:AMCX) Upgraded at BidaskClub

BidaskClub upgraded shares of Amc Networks (NASDAQ:AMCX) from a strong sell rating to a sell rating in a research report report published on Tuesday, BidAskClub reports.

AMCX has been the subject of several other reports. Wolfe Research raised Amc Networks from an underperform rating to a peer perform rating in a report on Tuesday, July 30th. Zacks Investment Research downgraded Amc Networks from a buy rating to a hold rating in a research note on Friday, August 2nd. Gabelli reissued a buy rating on shares of Amc Networks in a research note on Tuesday, June 11th. Finally, ValuEngine downgraded Amc Networks from a sell rating to a strong sell rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Amc Networks presently has an average rating of Hold and a consensus price target of $60.20.

Shares of NASDAQ AMCX opened at $52.41 on Tuesday. Amc Networks has a 12 month low of $51.04 and a 12 month high of $68.42. The stock has a market capitalization of $2.95 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.65 and a current ratio of 2.65. The company’s fifty day moving average is $54.39.

Amc Networks (NASDAQ:AMCX) last announced its earnings results on Wednesday, July 31st. The company reported $2.60 EPS for the quarter, beating the consensus estimate of $1.95 by $0.65. Amc Networks had a return on equity of 127.16% and a net margin of 15.04%. The business had revenue of $772.30 million during the quarter, compared to the consensus estimate of $783.03 million. During the same period in the prior year, the business posted $1.93 earnings per share. Amc Networks’s revenue was up 1.4% compared to the same quarter last year. Research analysts anticipate that Amc Networks will post 8.73 earnings per share for the current fiscal year.

In related news, CFO Sean S. Sullivan sold 27,232 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.61, for a total value of $1,487,139.52. Following the completion of the sale, the chief financial officer now directly owns 40,090 shares of the company’s stock, valued at approximately $2,189,314.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Gallagher sold 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $54.61, for a total value of $273,050.00. Following the completion of the sale, the executive vice president now directly owns 15,689 shares of the company’s stock, valued at $856,776.29. The disclosure for this sale can be found here. 21.29% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AMCX. Texas Permanent School Fund increased its position in Amc Networks by 3.0% in the 1st quarter. Texas Permanent School Fund now owns 30,371 shares of the company’s stock worth $1,724,000 after purchasing an additional 894 shares during the last quarter. AlphaCrest Capital Management LLC increased its position in Amc Networks by 68.1% in the 1st quarter. AlphaCrest Capital Management LLC now owns 9,471 shares of the company’s stock worth $538,000 after purchasing an additional 3,838 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in Amc Networks by 76.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 6,505 shares of the company’s stock worth $354,000 after purchasing an additional 2,815 shares during the last quarter. Inlet Private Wealth LLC increased its position in Amc Networks by 16.1% in the 2nd quarter. Inlet Private Wealth LLC now owns 43,875 shares of the company’s stock worth $2,488,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Norges Bank acquired a new position in Amc Networks in the 4th quarter worth about $34,521,000. 93.65% of the stock is currently owned by institutional investors.

Amc Networks Company Profile

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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Analyst Recommendations for Amc Networks (NASDAQ:AMCX)

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