AMC Networks (NASDAQ:AMCX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCXFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday.

Other equities analysts have also recently issued research reports about the stock. Seaport Res Ptn cut shares of AMC Networks from a buy rating to a neutral rating in a research report on Tuesday, December 12th. The Goldman Sachs Group decreased their target price on shares of AMC Networks from $20.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, October 20th. Finally, TheStreet cut shares of AMC Networks from a c- rating to a d rating in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $11.75.

Read Our Latest Research Report on AMC Networks

AMC Networks Trading Up 2.1 %

NASDAQ:AMCX opened at $14.71 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $640.77 million, a price-to-earnings ratio of 3.00 and a beta of 1.29. AMC Networks has a 52 week low of $9.96 and a 52 week high of $27.46. The firm has a 50-day moving average price of $18.15 and a two-hundred day moving average price of $14.55.

AMC Networks (NASDAQ:AMCXGet Free Report) last released its earnings results on Friday, February 9th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $678.80 million during the quarter, compared to the consensus estimate of $675.97 million. AMC Networks had a net margin of 7.95% and a return on equity of 30.74%. The company’s revenue was down 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 EPS. On average, equities analysts expect that AMC Networks will post 6.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AMC Networks news, Director Matthew Blank sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $19.09, for a total value of $954,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Matthew Blank sold 50,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Gallagher sold 22,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $20.40, for a total transaction of $448,800.00. Following the transaction, the executive vice president now owns 6,867 shares of the company’s stock, valued at approximately $140,086.80. The disclosure for this sale can be found here. Insiders sold a total of 85,192 shares of company stock worth $1,604,874 over the last three months. 27.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMC Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of AMC Networks by 280.9% in the 1st quarter. Invesco Ltd. now owns 1,377,018 shares of the company’s stock worth $55,948,000 after buying an additional 1,015,493 shares during the last quarter. Millennium Management LLC grew its position in shares of AMC Networks by 123.2% in the 4th quarter. Millennium Management LLC now owns 885,753 shares of the company’s stock worth $13,880,000 after buying an additional 488,956 shares during the last quarter. AQR Capital Management LLC grew its position in shares of AMC Networks by 256.9% in the 4th quarter. AQR Capital Management LLC now owns 563,168 shares of the company’s stock worth $8,825,000 after buying an additional 405,373 shares during the last quarter. Smith Graham & Co. Investment Advisors LP purchased a new position in shares of AMC Networks in the 3rd quarter worth approximately $3,957,000. Finally, Schroder Investment Management Group grew its position in shares of AMC Networks by 48.7% in the 2nd quarter. Schroder Investment Management Group now owns 991,422 shares of the company’s stock worth $11,847,000 after buying an additional 324,846 shares during the last quarter. Hedge funds and other institutional investors own 59.77% of the company’s stock.

About AMC Networks

(Get Free Report)

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates through Domestic Operations, and International and Other.

Further Reading

Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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