AMC Networks (NASDAQ:AMCX) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of AMC Networks (NASDAQ:AMCX – Get Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the stock.

AMCX has been the subject of a number of other reports. Morgan Stanley lifted their target price on shares of AMC Networks from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 21st. Wells Fargo & Company boosted their price objective on shares of AMC Networks from $10.00 to $15.00 and gave the company an “underweight” rating in a research report on Tuesday, February 21st. Finally, TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.71.

AMC Networks Stock Up 0.9 %

NASDAQ AMCX opened at $16.74 on Thursday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market capitalization of $719.99 million, a PE ratio of 139.51 and a beta of 1.21. AMC Networks has a 1 year low of $14.45 and a 1 year high of $43.74. The business’s 50-day moving average is $19.49 and its 200 day moving average is $20.25.

AMC Networks (NASDAQ:AMCX – Get Rating) last issued its quarterly earnings data on Friday, February 17th. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.23 by $1.29. AMC Networks had a net margin of 0.25% and a return on equity of 41.38%. The business had revenue of $964.50 million during the quarter, compared to analyst estimates of $937.07 million. During the same period last year, the business posted $0.54 earnings per share. AMC Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that AMC Networks will post 6.91 earnings per share for the current year.

Insider Activity at AMC Networks

In related news, EVP James Gallagher sold 20,000 shares of AMC Networks stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $23.15, for a total transaction of $463,000.00. Following the transaction, the executive vice president now owns 28,867 shares in the company, valued at approximately $668,271.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 27.29% of the stock is owned by corporate insiders.

Institutional Trading of AMC Networks

Several hedge funds have recently bought and sold shares of AMCX. Invesco Ltd. lifted its stake in 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 purchasing an additional 1,015,493 shares in the last quarter. Millennium Management LLC lifted its stake in 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 purchasing an additional 488,956 shares in the last quarter. AQR Capital Management LLC lifted its stake in 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 purchasing an additional 405,373 shares in the last quarter. Norges Bank purchased a new stake in AMC Networks in the 4th quarter worth $4,572,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in AMC Networks by 429.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 286,077 shares of the company’s stock worth $4,483,000 after purchasing an additional 232,024 shares in the last quarter. Hedge funds and other institutional investors own 63.13% of the company’s stock.

AMC Networks Company Profile

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AMC Networks, Inc is a holding company, which engages in the owning and management of cable television networks through its subsidiaries. It operates through the Domestic Operations, and International and Other segments. The Domestic Operations segment includes programming services and AMC Broadcasting and Technology.